My daughter inherited my late wife's traditional IRA in 2023.
I have a question related to the reporting of non-deductible contributions she made over the years and how TurboTax will handle these in the future.
The entry of the data was not complicated but different than a normal distribution.
- I have entered the information from her 1099-R, including box 7 = 4-Death.
- I have also completed the section "Did daughter inherit the IRA from wife's name" and checked someone else who passed away, including the name and year.
- On the screen "Tell Us a Little More About This Inherited IRA" I have checked Yes, my wife had nondeductible IRA contributions and entered the Calculated Taxable Amount.
The result is to reduce the Taxable Amount on Line 2a on the screen Enter daughter’s 1099-R.
Question:
Since I have entered the non-deductible contributions on the 2023 return, how will TurboTax handle this in future years? Will TurboTax recognize that I have entered it already?
I.e. assuming the non-deductible contributions have been applied to the 2023 return, they are not applicable to another year. Do I understand this correctly?
Thanks in advance
