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Retirement Savings Contribution Credit
Why has turbo tax been adding in my distributions for the past two years that were from an inherited IRA from a nonspousal beneficiary? These distributions should not be included. These RMD's are recorded in turbo tax as being from an inherited IRA and turbo also asks who the deceased was.
So my taxes for 2022 and 2021 had mistakes made when turbo tax used these distribution amounts to figure the Form 8880 for retirement savings contribution credit. And was doing the same for this year. I would not have noticed this if I had not gone to the irs Publication 590 and read the rules.
March 8, 2024
11:22 AM