Can you combine inherited iras

However, amounts in IRAs that an individual holds as a beneficiary of the same decedent and which are being distributed under the life expectancy rule… may be aggregated, but such amounts may not be aggregated with amounts held in IRAs that the individual holds as the IRA owner or as the beneficiary of another decedent. Because beneficiaries do have flexibility in aggregating RMDs from IRAs they have inherited from the same decedent it may be wise to discuss with your clients.

It is important to note that the beneficiary can elect to take more than the minimum distribution in any given year.

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The information on this site does not modify any insurance policy terms in any way. The devastating impact of the COVID pandemic has forced many families to unexpectedly settle an estate after an untimely death occurred to a loved one. General Investing. College Planning Accounts. Small Business Accounts. Open an account. Open Menu bar. Ask Merrill. Why Merrill Edge. General Investing Online Brokerage Account. Life events.

Life priorities. Investor education. Tools and calculators. Contact us. Open an account with Merrill. Helpful resources. Answered by. The short answer is yes , if you inherit the IRA from a spouse. Footnote 1. Before we dive in, keep in mind that tax rules surrounding inherited IRAs are complicated, and it's easy to make mistakes.

So be sure to consult a tax advisor before making any decisions. If you are the sole beneficiary, there are two ways to take control of the account:. In either case, the tax treatment of the inherited IRA funds generally will be based on your age, not your spouse's.

Footnote 1 Remember, if you are the spouse, any RMDs that the decedent did not satisfy for the year of the decedent's death generally must be taken before the assets can be moved to your own IRA.

You can't roll over the account into your own IRA, but there are a couple of other options:. Regardless of the path you choose, it bears mentioning again that consulting a tax advisor is the best way to ensure that you're adhering to the complicated tax rules that govern inherited IRAs.

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