ThomasM125
Expert Alumni

Retirement tax questions

You would not include an inherited one. Also, be careful of how the question is worded, as sometimes you will be asked to enter the basis of your IRA at end of the previous year. Your basis would be the net of your non-deductible contributions to your traditional IRA, if any. If asked for the previous end of year value, that would be the value of the IRA on the last day of the previous year.

 

[Edited 3/4/24 at 9:00 AM PST] 

@AWar3

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