401K inherited from spouse

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Subject Author Date 401K inherited from spouse MyVeryOwnSelf 04-23-2009  Re: 401K inherited from spouse Alan 04-23-2009  Re: 401K inherited from spouse Phillip Marti 04-23-2009
Posted by MyVeryOwnSelf on April 23, 2009, 3:14 pm Please log in for more thread options If a spouse inherits an IRA, IRS publication 590 explains that it can be treated as the survivor's own IRA. (Similarly for a 403B in publication 571.) An advantage of this choice can be longer deferral of the required minimum distribution. Is the same true if a spouse inherits a 401K? -- << ------------------------------------------------------- >> << 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. >> << ------------------------------------------------------- >> Posted by Alan on April 23, 2009, 5:35 pm Please log in for more thread options MyVeryOwnSelf wrote: > If a spouse inherits an IRA, IRS publication 590 explains that it can be > treated as the survivor's own IRA. (Similarly for a 403B in publication > 571.) An advantage of this choice can be longer deferral of the required > minimum distribution. > > Is the same true if a spouse inherits a 401K? > Yes. -- << ------------------------------------------------------- >> << 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. >> << ------------------------------------------------------- >> Posted by Phillip Marti on April 23, 2009, 6:24 pm Please log in for more thread options "MyVeryOwnSelf" wrote: > If a spouse inherits an IRA, IRS publication 590 explains that it can be > treated as the survivor's own IRA. (Similarly for a 403B in publication > 571.) An advantage of this choice can be longer deferral of the required > minimum distribution. In essence yes, but check with the plan about options. A lot of things in 401(k)'s are plan specific, and that could include options for spousal beneficiaries. The IRS Pub is 575. -------------- Phil Marti, VITA Volunteer Clarksburg, MD -- << ------------------------------------------------------- >> << 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. >> << ------------------------------------------------------- >> Similar Threads Posted non-spouse beneficiary 401k rollover to inherited IRA February 10, 2007, 6:43 am Question on non-spouse inherited IRA rollover/transfers July 15, 2007, 3:10 pm Re: Question on non-spouse inherited IRA rollover/transfers July 23, 2007, 1:16 am Re: Question on non-spouse inherited IRA rollover/transfers July 25, 2007, 6:22 pm Solo 401K (aka Individual 401K) same as Super-Simplified 401K? December 3, 2007, 12:49 am Inherited annuity to "inherited ira" July 1, 2008, 6:56 pm 401K for W-2 job, plus "individual" 401K for 1099 income ? March 17, 2008, 8:28 pm Roth 401K vs. "Regular" 401K? January 1, 2008, 9:13 pm 401K vs. Roth 401K November 4, 2008, 4:26 pm Inherited EE bonds February 27, 2007, 10:11 pm