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Do you need to enter an IRA inheritance contribution? If so, where?

 
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2 Replies

Do you need to enter an IRA inheritance contribution? If so, where?

You can't contribute to an IRA you inherited (unless you inherited it from your spouse and certain other limited special circumstances apply). 

 

You could make a withdrawal, in which case you would get a 1099-R from the IRA bank and that is taxable income on your tax return.

JohnB5677
Employee Tax Expert

Do you need to enter an IRA inheritance contribution? If so, where?

Did you make a contribution to an Inherited IRA?  This would not be appropriate and you should withdraw the money.

 

If you mean you are completing a final return for a deceased person and they made a contribution to their IRA

  1. On the menu bar on the left that shows.

    1. My Info

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  3. On the drop-down select Tools

  4. There are four green boxes

  5. Select Tax Topics

  6. Type IRA Contribution

  7. Continue through the interview

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