My husband died in 2023. Before his IRA was rolled into mine, the RMD was distributed to me. I have received a 1099-R with the RMD amount indicated in Boxes 1 and 2a, Box 2b shows taxable amount not determined, Box 7 shows code 4. When I enter this information in TT, and indicate that it is an inherited IRA, TT tells me the RMD is NOT taxable. Is that really true?
I thought RMDs were always taxable to the extent there is no cost basis.
