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Updated about 2 years ago on . Most recent reply

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7
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1
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inherited IRA blunder?

Michelle Le Mere
Posted

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

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