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Submitted By: someone
Answered: December 3, 2017 9:13 pm
Answered: December 3, 2017 9:13 pm
I inherited a Roth IRA and want to transfer funds to a new account. Am I limited to my annual required minimum distribution?
If you are not the spouse of the person who set up the Roth IRA, you cannot roll over the funds to your own Roth IRA account. However, you can change investment companies; you aren’t limited to a part of the account. But use caution: the account must be titled in such a way that it’s not treated as a distribution to you.
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Tax Glossary
Installment sale
A sale of property that allows for tax deferment if at least one payment is received after the end of the tax year in which the sale occurs. The installment method does not apply to year-end sales of publicly traded securities. Dealers may not use the installment method. Investors with very large installment balances could face a special tax.
