198685
Will this roll-over be considered a retirement distribution making me ineligible for the Retirement Savings Contribution Credit?
You'll need to sign in or create an account to connect with an expert.
No.
An IRA inherited by an non-spouse beneficiary can only be moved to an IRA for the benefit of the beneficiary by nonreportable trustee-to-trustee transfer, not by reportable distribution and rollover. A non-spouse beneficiary is not permitted to roll over any distribution paid to the beneficiary.
Even if a non-spouse beneficiary receives a distribution from an inherited IRA, the distribution does not affect that individual's eligibility for a Retirement Savings Contributions Credit. This distribution is not to be included when TurboTax asks if there were any distributions in the period from 2 years before the tax year through the due date of the tax return.
No.
An IRA inherited by an non-spouse beneficiary can only be moved to an IRA for the benefit of the beneficiary by nonreportable trustee-to-trustee transfer, not by reportable distribution and rollover. A non-spouse beneficiary is not permitted to roll over any distribution paid to the beneficiary.
Even if a non-spouse beneficiary receives a distribution from an inherited IRA, the distribution does not affect that individual's eligibility for a Retirement Savings Contributions Credit. This distribution is not to be included when TurboTax asks if there were any distributions in the period from 2 years before the tax year through the due date of the tax return.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
pauljodea
New Member
mike the wino
Level 2