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Retirement tax questions
Hello dmertz or others!!
I'm still a little confused. As you suggested I created an 8606 outside of TT for my deceased husband and for line 6 used the value of the inherited IRA immediately prior to my assuming.
Now I am creating my own 8606 form. For line 6 (Total Value of all IRAs) do I take the combined year end total of my IRAs AND the one I inherited? (in a sense double counting the inherited value since I used that for my husbands)???
Relative to Basis do I add my husbands new basis to my current new basis for 2022 filing, or do I add my husbands basis to mine next yea???
Many thanks.
March 25, 2023
10:59 AM