IRA Rollover?

Mike3232 · ‎02-11-2023

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?

sjrcpa · ‎02-11-2023

You are correct. It's taxable.

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

Mike3232 · ‎02-11-2023

Thx

qbteachmt · ‎02-12-2023

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.

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Mike3232 · ‎02-12-2023

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

IRA Rollover?

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