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Level 3
posted Oct 4, 2022 8:06:28 PM

Inherited Roth IRA Withdrawals Since The Secure Act

My dad passed two years after creating a Roth IRA. In light of the Secure Act of 2019, is there any benefit to my waiting until 2024 when the Roth IRA will be five years old since its creation? If not, how do I determine the cost basis of IRA. It was a Schwab to Schwab transfer. I liquidated the individual stocks earlier this year and put the proceeds into a few ETFs.

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2 Replies
Level 15
Oct 5, 2022 6:38:37 AM

See Inheriting a Roth IRA as a Non-spouse in this web reference for a good explanation of your options:

https://www.investopedia.com/roth-ira-beneficiary-rules-4770500

Level 15
Oct 5, 2022 8:24:47 AM

 

I think you would obviously prefer to make your investments  using a Roth account as opposed to a regular taxable account.

However, no deductions for capital losses if you screw up.

 

@taxamedmed