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State tax filing
When you have an Inherited IRA with basis, you're in a scenario that TurboTax can't cope with.
You must follow the instructions for Form 8606 and compute the non-taxed part yourself, then fillout the form manually and file a paper return.
Meanwhile, the totals value of your IRAs and the total value of the IRAs you inherited are separate figures and must be kept separate.
Since you are not taking from your own IRAs, you would skip that section.
In other words, Turbotax can only track your basis, not the inherited basis.
March 25, 2020
4:39 PM