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inherited IRA in 2010 and pay taxes on distributions Parent earned too much to deduct contributions. Should I be paying taxes on distributions? If not, how to document?

 
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MaryK4
Expert Alumni

inherited IRA in 2010 and pay taxes on distributions Parent earned too much to deduct contributions. Should I be paying taxes on distributions? If not, how to document?

Yes, in most cases for inherited IRAs, you would pay the taxes on distributions the same way that the decedent would have.  

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