In PLR 202125007, the IRS strictly enforced the rules which prohibit rollover distributions from any inherited IRA. In this case, the trustees of a beneficiary trust sought to trade stocks within an inherited IRA, but were told by the IRA custodian that they must transfer the assets to a new account to do so. The new account was not an IRA, and the IRS refused permission to reverse the transfer, reasoning that there is no direct trustee-to-trustee transfer. As a result, the entire IRA distribution was taxable….(read more)
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