How’s this sound?
Yes, my wife was the owner of both Traditional IRA’s that my daughter inherited.
Form 8606, Line 6 – Shows the sum of the values as of 12/31/23 for Custodians-1 (with non-deductible contributions) and Custodian-2 (with no non-deductible contributions).
Form 8606, Line 7 – Shows the sum of distributions from Custodians-1 and Custodian-2.
Form 8606, Line 12 – Non Taxable portion. The non taxable portion is applicable to Custodian-01 (with non-deductible contributions).
TTAx – Screen for Custodian-1 (with non-deductible contributions) “Tell Us A Little More About This Inherited IRA”. It asks for the taxable amount. I subtracted the non-taxable amount from 8606, Line 12 from the total distribution. That amount carries to TTax screen for 1099-R, Line 2a.
TTax – Screen for Custodian-2 (with no non-deductible contributions). I say No, she did not have non-taxable contributions. TTax screen for 1099-R, Line 2a shows the taxable amount is the same as the Gross Distribution.
