Legal & Legislation
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 2 years ago,
inherited IRA blunder?
My mom died on Dec. 18th 2022. I inherited her IRA (traditional) with a balance of around $130,000. She had already taken her RMD for the year, in fact, much more do to medical care at the SNF. Anyway, I took the lump sum distribution in Jan. of 2023 as I want to start real estate investing with the money. I just learned today, Feb. 12, 2023, about self-directed IRA's being used for real estate investing. So my questions are:
1. It is still in the 60 day period after her death, so can I put that money back into an "inherited IRA"?
2. Can I just open an "inherited IRA" with it on my own?
3. Am I just screwed?
4. What kind of professional do I need to be looking for to help me with this?
5. Any referrals for someone in the state of Wisconsin?
Thanks,
Michelle