During a divorce, I received part of my ex-spouse's Roth IRA. It was passed from trustee to trustee (no cash was ever in my hands) directly into my own Roth IRA. It was greater than the 5,500 allowed each year for a contribution. But if this was a rollover, conversion or a recharacterization then I don't think it's a contribution so I won't worry about exceeding the 5,500 limit.
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After I posted this question I contacted the IRS. Here is their answer:
My transfer is considered an inherited Roth. Because, in my case, it is due to either a
1) Divorce or
2) Separate Maintenance Decree (such as a PSA, Property and Support Settlement Agreement)
it is considered a tax-free transfer. It is not a rollover, it is not a conversion, and it is not a recharacterization. It is also not a contribution. It is therefore not reported on my tax return.
So I don't need to report it at all on my tax-return and more importantly, there is no tax penalty.
After I posted this question I contacted the IRS. Here is their answer:
My transfer is considered an inherited Roth. Because, in my case, it is due to either a
1) Divorce or
2) Separate Maintenance Decree (such as a PSA, Property and Support Settlement Agreement)
it is considered a tax-free transfer. It is not a rollover, it is not a conversion, and it is not a recharacterization. It is also not a contribution. It is therefore not reported on my tax return.
So I don't need to report it at all on my tax-return and more importantly, there is no tax penalty.
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