How much of my inheritance can I put in my IRA?

Answer by  patti (29325)

The IRS limits annual contributions to an IRA. Go to the IRS website where you download the publications that detail all the guidelines and restrictions re: IRAs.

Answer by  tamarawilhite (17883)

You can put as much as 5,000 a year in an IRA. You can put 5K per year from the inheritance in the IRA after you pay interference taxes.

Answer by  Liz59 (10966)

You can basically put up to 50% of your inheritance into the IRA if you would like to. There is no set number, but I suggest you should not put all your funds into IRA.

Answer by  sellinghousesforyouyahoocom (48)

You can contribute as much of it as you want to your IRA. IRA accounts are usually used as a tax shelter as well as an investment vehicle. You do not have to pay taxes on inheritance monies so you may want to find a different investment for this money.

Answer by  Lordschild (1398)

You can put in as much or as little as you want. There is a limit on how much you can deduct on your taxes.

Answer by  brian7754 (243)

You can only contribute to the maximum contribution limit. For Traditional IRA, that's $5,000 / yr, plus another $1,000 year if you're age 50 or older (catch-up contribution).

Answer by  oldmom (716)

You can only put earned income into an IRA. You can put NONE of an inheritance in an IRA. It will have to be invested in a regular account.