Can IRA distributions from a trust be rolled into a new IRA by the beneficiaries?

[Guest gmandmjjones]

My father set up an IRA with his trust as the beneficiary. After he died the IRA was cashed out and the proceeds were divided between myself and my two sisters. Am I able to roll that amout into a new IRA so I can save the tax hit? I get conflicting answers from the finaincial planners I have talked to.

[david rigby]

Try IRS Publication 590, available by calling 1-800-tax-form.

I believe rollover rights extend to the spouse but not to other beneficiaries.

[Appleby]

followed up at http://benefitslink.com/boards/index.php?showtopic=24257