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Mike3232
Level 4
February 11, 2023

IRA Rollover?

  • February 11, 2023
  • 2 replies
  • 15 views

Client received late husbands IRA via check, put it in bank CD within 60 days. 1099-R has Code 4,Death. I am thinking this does not qualify as a rollover.  Am I correct?

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2 replies

sjrcpa
sjrcpa
Level 15
February 11, 2023

You are correct. It's taxable.

The more I know the more I don’t know.
    M
    Mike3232Author
    Level 4
    February 11, 2023

    Thx

      qbteachmt
      qbteachmt
      Level 15
      February 12, 2023

      Unless the purchase of the CD was made inside of an IRA account in her name as Inherited, there no longer is any IRA protection on the funds. Look at the account where the CD is held, to see how it is titled for the owner.

      Don't yell at us; we're volunteers
      M
      Mike3232Author
      Level 4
      February 13, 2023

      Thanks.  It's an 11 month CD.  Checking the bank tomorrow.

       

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