"I included this nontaxed inherited IRA in the val...
New Member

Why was RMD from a non-spousal inherited IRA not included on form 8606, line 7? I included this nontaxed inherited IRA in the value of all my yr. end trad. IRAs line 6

 
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New Member

Retirement tax questions

The total amount of this RMD seems to be  added to the result from line 18 , to be included on line 15b of my 1040.  Why wouldn't it be included on form 8606?  and if not, should I subtract the yearend value it from line 6 on the 8606 form?
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Level 15

Retirement tax questions

"I included this nontaxed inherited IRA in the value of all my yr. end trad."

You should know that inherited IRAs must be treated separately from your own traditional IRA(s), so don't do that.

And why do you think it is non-taxed.?

TurboTax does not support Form 8606 for an Inherited IRA with a basis.

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New Member

Retirement tax questions

I really don't know if the inherited IRA was non-taxed, but I don't have any way of finding out for sure.   thanks for your reply.
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Level 15

Retirement tax questions

fanfare is correct - You cannot, by law, combine your personal IRA 8606 basis with the basis (if any) in a non-spouse inherited IRA.  They must be kept separate on a stand-alone 8606 that cannot be e-filed with TurboTax.  The inherited IRA 8606 must be completed manually and attached to a mailed tax return.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
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