An inherited IRA with a code 4 can only be rolled into another IRA if inherited by the spouse of the deceased.
Inherited IRA's by a non-spouse can have the IRA trustee do a trustee-to-trustee transfer into a beneficiary account that must remain in the name of the deceased with you named as beneficiary.
TurboTax will ask if the IRA was inherited by the spouse. Then asks if the spouse put the money into his/her own IRA. That will make the distribution a rollover on the 1040 line 4a and nothing on 4b.
An inherited IRA from a non-spouse is not eligible for rollover.
Anything you put into a retirement account by a non-spouse would be a new contribution to that account subject to the normal contribution limits or it would be an excess contribution.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
