Retirement tax questions

@BillM223 

Yes, you are correct.

I had also read somewhere else that TurboTax has never automatically handled the cost basis for inherited IRAs, and that it only automatically handles the cost basis for traditional IRAs. In the past (2012-2019) TurboTax just set a cost basis of $0 on my inherited IRAs, possibly due to me answering that the person from whom I inherited the IRAs did not have non-deductible contributions. Unfortunately, in the 2020 version of TurboTax this is no longer the case, resulting in an incorrect taxable amount on the inherited IRAs.

I hope the case I opened is still active and that someone is actually working on it. If it's not fixed, many people may end up taking advantage of TurboTax's calculation guarantee when the IRS informs them later of the taxable amount error in their returns, which may be sizeable.