No - An inherited IRA does not count as a contribution to your own IRA –
it must remain a separate entity. The IRA actually remains in the
parent's name, along with yours, and any distributions will be reported on a
1099-R with a code 4 (death) in box 7. You can not make any contributions
to the inherited IRA.
Please note that since the IRA was inherited, you must start taking distributions
by the end of the year following the year of death. The exception to
this is if the entire account balance is distributed by the end of the calendar
year five years after the year of death.
You do not need to report the inheritance, but you do need to report any
distributions from the IRA reported to you on a 1099-R.
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