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Inherited Spousal IRA with Non-Deductible Contributions
My wife passed in June 2021, so this is the first income tax season since her passing. Her IRA was transferred to me following her death. Her IRA included non-deductible contributions. How do I use her non-deductible contributions to reduce the basis of what is now my IRA, this year and in following years? I'm using TT Basic on my desktop.
When I input the value of the IRA, TT applied my N-D Contributions against the inherited IRA but did not apply her N-D Contributions anywhere. Also, TT did not apply my N-D Contributions against my previously owned IRA. Should I be treating my inherited IRA as her IRA in TT?
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March 10, 2022
5:56 AM