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Do I need to include the value of inherited traditional IRAs where TT says Tell Us the Value of Your Traditional IRAs in the Wages and Income section?

I think this is part of the RMD routine
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1 Reply
dmertz
Level 15

Do I need to include the value of inherited traditional IRAs where TT says Tell Us the Value of Your Traditional IRAs in the Wages and Income section?

Unless you are the spouse of the deceased IRA owner and have chosen to treat the IRA as your own, do not include the inherited IRA value when TurboTax ask for the year-end value of your traditional IRAs.  Everything about an inherited IRA is separate from your own IRAs.  An inherited IRA is still an IRA of the original participant, just maintained for the benefit of the beneficiary.

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