<adwagner[at]hotmail.com> wrote:

- quote -

Pub 590.

What does apply to inherited IRAs is the elimination of the RMD for 2009.

--
Phil Marti
Clarksburg, MD

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I read an article in Business Week that indicates you can convert an
inherited traditional IRA to a Roth in 2009 - presumably because you
don't have to take a distribution in that year. However, publication
590 is awful clear that you cannot convert an inherited IRA (from
other than your spouse) to a Roth. Which is right?

My wife inherited an IRA from her father several years ago and I would
love to convert it to a Roth in 2009, as our income will be unusually
low this year.

If I cannot convert the inherited IRA to a Roth, I will simply take a
full distribution in 2009 (the balance is around $10,000) and turn
around and make a $5,000 contribution to a Roth IRA at the same time.
That will effectively be a "do it yourself" conversion of an inherited
IRA, although the amounts don't match exactly.

Thanks.

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >