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IRA Distribution

2018 – 11/06 An IRS private letter ruling forecasts a good tax outcome for a widow. The taxpayer, as the decedent’s spouse, would be treated as having acquired the IRA in question directly from the decedent, not from the trust that was the IRA’s primary beneficiary, the IRS stated. And she was eligible to roll over the IRA distribution to one or more IRAs established and maintained in her own name. Also, the widow wouldn’t be required to include in income, for the year of distribution, any portion of the IRA proceeds that she timely rolled over to her own IRA. (PLR 201844004)

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