@dmertz @SJGTX Thanks for the detailed guidance across this thread. Bumping this particular post in the hope that you are still monitoring:
In the event of a spousal inherited IRA *with* basis in non-deductible contributions, I understand that:
- As it is treated as an inherited IRA, the basis should never be blended with any existing basis of my own
- TurboTax is not equipped to directly handle this, i.e., I cannot create two 8606 worksheets in the system
When you say "supply TurboTax with the result," how does one do this, particularly if using the online version? Email, upload, etc.? My current understanding is that I will have to file a supplementary 8606 offline by mail every year to the IRS. Is there a more straightforward solution that involved integration with TurboTax?
Does the correct path forward with reporting and filing change at all for the "first year" i.e., the year of death and/or subsequent year when the account was fully inherited?
Note: To extent relevant, I am some years away from any distributions - chief concern right now is just correctly tracking basis across my own and the inherited account. Per beneficiary guidelines, I have kept this as an inherited account with plans to delay RMDs until when my late wife would have turned 72.
@Gordon3 @sandy4042 Have you found a clear path forward here?
