Level 15

Spousal Inherited IRA

Forum|Forum|3 years ago
October 7, 2022
3 replies
11 views

This is one of those things I remember learning about 40 years ago, but never having to deal with. Husband died, widow rolls over his IRA to her own. Widow remarries, then dies. No problem with rolling over her IRA to his, right? I just saw it happen for the first time. Has anyone seen a longer rollover streak?

This topic has been closed for replies.

sjrcpa

Level 15

Never have. Did we have IRAs 40 years ago?

The more I know the more I don’t know.

BobKammanAuthor

Level 15

Since 1974. You remember that year, right? Nixon resigned. Twelve years later, Reagan repealed rollover of gain from sale of primary residence.

sjrcpa

Level 15

TRA 86 did a lot more than that.

Yes I remember 1974 but not the bit about IRAs.

The more I know the more I don’t know.

T

Terry53029

Intuit Community Champion

From IRS: "If a surviving spouse receives a distribution from his or her deceased spouse's IRA, it can be rolled over into an IRA of the surviving spouse within the 60-day time limit, as long as the distribution is not a required distribution, even if the surviving spouse is not the sole beneficiary of his or her deceased spouse's IRA". It makes no mention of it being a 2nd, 3rd, of 4th spouse, only spouse. I suppose there might be time limits in the actual code.

T

Terry53029

Intuit Community Champion

FYI Traditional IRAs were introduced with the Employee Retirement Income Security Act of 1974 (ERISA) and made popular with the Economic Recovery Tax Act of 1981.

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