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Clarification of interview question “Did you inherit this IRA?” My existing IRA got roll over from late wife's IRA. I answered no.

While entering data for a 1099-R for my own IRA the interview question: “Did you inherit this IRA?” was asked and I answered no.  I did not inherit my Edward Jones IRA but my late wife’s Edward Jones IRA was rolled into it.  My reading of the instructions for form 1041 Estate Taxes as well as 2 TurboTax commentaries suggests this roll over needs to be listed somewhere.  No related questions were asked for my late wife’s IRA.  Should I go back and answer yes to that question?  Also any clarification on what needs to be done for the estate taxes is appreciated.  Other estate income is well below the $600 threshold.


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Clarification of interview question “Did you inherit this IRA?” My existing IRA got roll over from late wife's IRA. I answered no.

Once you choose to treat your inherited IRA as your own, and your name is on the account, not your spouse, then it is your IRA and no longer an inherited IRA.    Also, the 1099-R box 7 code would be a "4" if it is an inherited IRA.

When you transferred your spouses IRA to your account, it was a trustee-to-trustee transfer and not reportable.

**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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