dmertz
Level 15

Retirement tax questions

1.  If you made no nondeductible contribution for 2021, made no distribution from your your own traditional IRAs in 2021 and made no nonqualified distributions from a Roth IRA in 2021, your 2021 tax return will not include Form 8606.  Your last filed Form 8606 continues to show your current basis in nondeductible traditional IRA contributions.

 

2.  It's not.  Distributions for the inherited traditional IRA with no basis go nowhere on any Form 8606.  the taxable amount of the distribution from the inherited traditional IRA is the entire gross amount.  The year-end balance in the inherited traditional IRA is to be entered nowhere in TurboTax.

 

3.  See #1 and #2.  @VMOO , it seems that you may have failed to indicate to TurboTax that Form 1099-R from the inherited IRA is indeed an inherited IRA.  Even though this Form 1099-R has code 4, you must answer Yes on the page that asks if this IRA is inherited.