Is there any other option for non spouse other than taking out within 10 years, can I roll it into my own inherited Roth IRA account to let it continue growing tax free forever?
@jpnh2012 Жыл бұрын
It sounds to me like all the money in the inherited account is required to be fully distributed and there is a 10 year deadline. You have choices on when to take those distributions and how much each time. I'm no expert but I presume the only way to put that money in your personal Roth IRA is to make annual contributions, following the usual rules for that.
@jpnh2012 Жыл бұрын
I would like to know the required steps for taking distribution(s) from an inherited Roth IRA when the account is invested in real estate. I can guess, but I would like to hear from ETC.
@jpnh2012 Жыл бұрын
Are those distributions taken as shares of ownership of the property? I see advertisements by John Bowens recommending to invest in real estate through your Roth IRA. But I haven't seen where he talks about the ramifications of taking distributions from an account invested in real property.
@equitytrustcompany Жыл бұрын
If taking a distribution of a property, from an inherited IRA, you would first need to obtain a fair market valuation, which would be in the form of an appraisal or Broker Price Opinion. From there, you can distribute a portion of the property to yourself, or the entire property to satisfy your required minimum distribution. When distributing a property, you will need to work with an attorney, or on your own prepare a deed, to convey the ownership from your IRA to you personally. You will then need to record said deed with the respective county recorder.
@DamianoOkaie8 ай бұрын
Thank so much for clarification of Beneficiary IRA. As non USA resident I shall I do to access my decendent uncle IRA Account. In addition, late died in 2010 and IRS levied the bank account. What does I do to withdraw the funds from IRA.
@equitytrustcompany8 ай бұрын
Hello, the best approach to understanding the steps to withdrawing funds from any IRA would be to contact your account administrator.
@ajarthur2437 Жыл бұрын
Very helpful thanks!
@equitytrustcompany Жыл бұрын
Glad it was helpful!
@akotofiq8394 Жыл бұрын
great job thx
@joyblevins871211 ай бұрын
I inherited $100k when my brother passed away February 19 2021. He was 59 and I was 57. I transfer the funds over to my name i have 10yrs to deplete the funds but not in my lifetime correct?
@equitytrustcompany11 ай бұрын
The 10 year rule works different for when you an inherit an IRA from someone that is not more than 5 years older. You would follow the life expectancy required minimum distribution (RMD) rules.