- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Thanks for the reply @dmertz . I should have emphasized this situation was similar to the original thread, i.e. the IRA passed to the estate as there were no designated beneficiaries and no will, this year.
If you are correct on this, it is of course very unfortunate that there would be no option to spread out the income. It conflicts with other information on this, stating that a custodian-to-custodian transfer into an inherited IRA is allowed, referencing ruling PLR 202031007 and also 201241017. (Don’t understand that redaction!). Dates to July 31 of 2020.
I also know that my mother’s IRA passed to a trust, and I was able to get that rolled into an inherited IRA, but possibly there is something special about trust versus an estate.
In any case, do you have a reference document I can refer to that concludes that this is not allowed?
As for my original question, I’m thinking the answer is that a trustee-to trustee transfer of an IRA is not reportable and would not show in the income on 1041 as there would be no 1099-R to the estate.
thanks!