Roth IRA contribution after Roth IRA owner dies
I have an IRA owner that died in 2008. He had yet to fund his Roth IRA for 2007. His wife wants to know if a contribution for 2007 can be made to his Roth IRA.
I have an IRA owner that died in 2008. He had yet to fund his Roth IRA for 2007. His wife wants to know if a contribution for 2007 can be made to his Roth IRA.
Permalink Submitted by Alan Spross on Mon, 2008-04-07 22:43
No. This goes way back to PLR 8439066, which used the rationale that a deceased person has no need to fund his retirement.
However, the wife may otherwise qualify for a spousal contribution to her IRA using her deceased spouse’s earned income for 2007, and for that matter for 2008 also if her husband had 2008 earned income.
Permalink Submitted by Sarah Green-Robinson on Tue, 2008-04-08 13:53
I appreciate your help. The wife is employed as well and would not need to “borrow” income to fund her IRA.