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Retirement tax questions
The inherited IRA was only permitted to be moved by nonreportable trustee-to-trustee transfer, so there should be nothing on the Form 5498 in any of the contribution boxes (if what was inherited was truly an IRA). Other than a direct rollover contribution from an employer's qualified retirement plan like a 401(k) reported in box 2 of the Form 5498, contributions are not permitted to be made to an inherited IRA.
‎February 2, 2024
12:53 PM