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Retirement tax questions
I took RMDs from traditional IRAs inherited from my parents. Since you indicated that could affect Form 8606, I was going to test if changing one of them in TurboTax to my wife would populate line 4 on her Form 8606 or if removing both of them would de-populate line 4 on my Form 8606.
However, just going through the screens again for those RMDs removed the amount from line 4 of my Form 8606. I must have missed specifying that I inherited them - the literal question was whether I inherited them from my investment firm (not whether the IRA distributions from my investment firm were inherited) and I really wasn't thinking, lol.
I haven't had time to research why that affects Form 8606. I did make the entire traditional IRA contribution between January 1 and April 15 of 2019, so shouldn't the amount show on line 4?
Thanks for your time and help! I really appreciate it.