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Get your taxes done using TurboTax
As I said above, By using the CD/Download program and being careful, you can trick TurboTax into doing the basis calculations for you, or do it yourself following instructions for Form 8606.
The prorated tax-free portion of the distribution depends on the prior basis and the year-end value of the inherited IRA.
Once you have these numbers you can get fillable PDF of the Form 8606 on IRS.gov.
You can enter the correct names "<owner> and <wife> BENE", and wife's SSN.
Include the results on Form 1040 Line 4a and 4b.
Obviously, you'll have to file a paper tax return via US Mail.
‎February 11, 2022
6:05 PM
2,027 Views