My husband passed away in 2016. At that time, his Roth IRA was transferred to me. I also have my own Roth IRA. I am 79 years old. I made my first withdrawal from the Roth, that was originally my husband's, in 2018. All contributions and conversions to both Roth IRAs were made prior to 2013. My 1099R is coded "Q" as a qualified distribution. TurboTax is asking for the amount of contributions and conversions (all made when the account was my husband's). Do I have to enter this information or can I leave it blank? If I must enter it, what information should I enter? I will have difficulty retrieving the contributions and conversions my husband made to his Roth. What should I do if I cannot retrieve the information? Thank you.
The only reason to enter your Roth IRA contribution and conversion basis (including the basis you inherited from your husband) is in case you fully distribute all of your Roth IRAs after the year 2025 and you have unrecoverable basis. In that case, you'll be able to claim a miscellaneous deduction subject to the 2%-of-AGI floor on your 2026 or later tax return when this deduction is no longer suspended under the Tax Cuts and Jobs Act of 2017, otherwise TurboTax does not need this information since your Roth IRA distributions are qualified distributions that not reportable on Form 8606.
The only reason to enter your Roth IRA contribution and conversion basis (including the basis you inherited from your husband) is in case you fully distribute all of your Roth IRAs after the year 2025 and you have unrecoverable basis. In that case, you'll be able to claim a miscellaneous deduction subject to the 2%-of-AGI floor on your 2026 or later tax return when this deduction is no longer suspended under the Tax Cuts and Jobs Act of 2017, otherwise TurboTax does not need this information since your Roth IRA distributions are qualified distributions that not reportable on Form 8606.