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For DMertz... A bit more guidance if you don't mind.
My daughter inherited two Traditional IRA's from my late wife in 2023. One from Custodian-1 and one from Custodian-2
The value of Custodian-1 has non-deductible contributions. The one form Custodian-2 did not.
In TTax, when I enter the data for Custodian-1, TTax follows with "Tell Us A Little More About This Inherited IRA". It asks for the taxable amount. Upon entering the taxable amount, that amount shows on the screen for entering the 1099-R data, Line 2a.
Am I understanding the following correctly?
Form 8606, Line 2 – I entered the remaining value of my wife’s non-deductible contributions as of 12/31/22. (She died in 2023)
Form 8606, Line 6 asks for value of all the IRA's as of 12/31/23. However, since 8606 is only for Non-Deductible IRA’s, I assume I only report the taxable amount from 8606, Line15c for Custodian-1 (with non-deductible contributions)?
Since the value of Custodian-2 does not have non-deductible contributions, it does not ask for a taxable amount, therefore no 8606 is required.
The only 8606 that to be submitted with the mailed 1040 will be for Custodian-1 (with non-deductible contributions).

Thanks in advance, you've helped me understand this complicated process.