Retirement tax questions

@ThomasM125 I believe this bug only shows up if the taxpayer has an IRA distribution of their own IRA that has a basis and that creates the 8606-T (or -S).   Adding a 1099-R with a box 7 code 4, seems to erroneously add the inherited 1099-R box 1 amount to the 8606 line 7, which results in totally incorrect taxable amounts on the 8606.

 

For some reason simply toggling NO to YES and back to NO on the inherited basis question removes it from the 8606.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**