Is an Inherited IRA distribution taxable?

My wife's father deceased. She inherited a portion of the IRA. Is this taxable?

posted

It depends. In general, she would have to pay the same tax tat he would have- so if it was a Roth IRA it would most likely not be taxable, but if it was a traditional IRA, some or all of it would be taxable.

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Backdoor Roth IRA 2024 - Turbotax is taxing the entire amount of the conversion (which is incorrect - the conversion amount is the same amount as the basis from the non-deductible IRA that I am converting to Roth.

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