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I inherited a traditional IRA from my deceased husband in 2015. I have not made any withdrawal. Do I have to include the market value in 2016 tax return?

 
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1 Best answer

Accepted Solutions
Patrice
New Member

I inherited a traditional IRA from my deceased husband in 2015. I have not made any withdrawal. Do I have to include the market value in 2016 tax return?

No, you would not enter the market value in your 2016 tax return since you have not made any withdrawals.

https://ttlc.intuit.com/replies/4790205

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7 Replies
dmertz
Level 15

I inherited a traditional IRA from my deceased husband in 2015. I have not made any withdrawal. Do I have to include the market value in 2016 tax return?

Did you choose to treat the IRA as your own or did you choose to maintain the IRA as in inherited IRA, titled in the name of your deceased husband for your benefit as beneficiary?

I inherited a traditional IRA from my deceased husband in 2015. I have not made any withdrawal. Do I have to include the market value in 2016 tax return?

Its a rollover IRA and the form I received is 5498

I inherited a traditional IRA from my deceased husband in 2015. I have not made any withdrawal. Do I have to include the market value in 2016 tax return?

Thank you. The IRA is my name and husband as beneficiary.
Patrice
New Member

I inherited a traditional IRA from my deceased husband in 2015. I have not made any withdrawal. Do I have to include the market value in 2016 tax return?

No, you would not enter the market value in your 2016 tax return since you have not made any withdrawals.

https://ttlc.intuit.com/replies/4790205

dmertz
Level 15

I inherited a traditional IRA from my deceased husband in 2015. I have not made any withdrawal. Do I have to include the market value in 2016 tax return?

If I infer from your description of this as a "rollover IRA" that you rolled it over to an IRA in your own name and not maintained as an inherited IRA in your husband's name for your benefit as beneficiary, this IRA is treated as if it has always been your own IRA.  If your IRAs include nondeductible traditional IRA contributions and you make a distribution from any of your traditional IRAs, the year end balance in this account must be included in the total balance of the IRAs that you own.

I inherited a traditional IRA from my deceased husband in 2015. I have not made any withdrawal. Do I have to include the market value in 2016 tax return?

It is maintained as inherited IRA and the account name is my name as beneficiary of my husband. Thank you.
dmertz
Level 15

I inherited a traditional IRA from my deceased husband in 2015. I have not made any withdrawal. Do I have to include the market value in 2016 tax return?

Then my answer does not apply.  See the answer provided by TurboTaxPatrice.
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