I work in the school district as a sub and I received a inherited IRA about 4 years ago. My school has a rams 403(b) plan I make small contributions in, and I take out minimum distributions every year from the inherited IRA. I get a 1099-R from TD Ameritrade.
My RMD's have been: $633 every year (I took out in 2017,18,19, and not yet this year).
Last year I contributed $250 to my 403(b)
I have the following questions:
- Is the inherited IRA a "nonstandard 1099-R"? I'm guessing this is no?
- Do I have a basis in my IRA? I'm assuming since I dont contribute to this and I take RMD's? no?
- Regard the savers credit: It ask "Did you withdraw money or receive payments from any of these?":
- A retirement plan like an IRA, Roth IRA, or 401(k) in 2018 or 2017? I picked yes
- A retirement plan like an IRA, Roth IRA, or 401(k) between January 1, 2020, and the due date? No
- A 404(k), 414(h), or other non-contributory plan (reported on Form 1099-R)? No
It then ask for me to "Enter your distributions in 2017 and/or 2018", would that be:
Your traditional IRA distributions: 633
4.) As far as the deductions, it's asking if I have a traditional ira or a roth ira, which I assume I say no? Or is this where I would say I do with my employer (which I'm assuming a 403b is a retirement plan and not the case)?
Just wondering if the answers I selected in bold are the correct answers?
