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Participant ○○

Hello;

My Mother has inherited an IRA and a Roth IRA from my Father; her spouse.  They are both over age 70.5.

So, I'm filling out the paperwork for her and it asks where I want the distributions to go to.  It gives a choice of either a Check or a nonretirement account.

I would like to place it into the Roth.  However, that is of course a type of retirement account.

I've heard of people rolling funds into Roths, but am not sure about the limitations on this.  This is with Fidelity.  Wondering if other firms allow this?

Thanks!

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Frequent Contributor

Re: RMD Distribution destinations

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RMDs cannot go into Roth IRA. Beyond RMD, she can do Roth Conversion.

YBB

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Frequent Contributor

Re: RMD Distribution destinations

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RMDs cannot go into Roth IRA. Beyond RMD, she can do Roth Conversion.

YBB

View solution in original post

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Participant ○

Re: RMD Distribution destinations

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It may not be relevant, but is her husband deceased? You wrote "inherited". I wonder if you also meant to ask whether the RMDs should be at TIAA or somewhere else. Does she have an investment account at a place like Fidelity of Vanguard? Can she manage it herself, or is it on you entirely? Does she have any qualifiedl investments of her own (I mean, like his?)

Another issue could be whether she wants to stretch out the RMDs as long as possible, or whether she wants the death transfer to let her get at all the TIAA Traditional at once (assuming the taxes are bearable.) I don't mean to make it harder, but your question was bit of a sketch ...

In general, you need employment wages to put after-tax money in a Roth. You can do Roth Conversions from a traditional IRA without having wages. You pay ordinary-income tax on each dollar converted. Any danger of Investment Income tax?

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Re: RMD Distribution destinations

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I assumed that inheritance part was taken care of - retitled with spouse as the new owner or spouse as beneficiary. With the age mentioned, it may not matter.

YBB
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