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armybb2
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Should I include my non-spousal inherited IRA when Turbotax asks me to enter the Dec 31, 2024 balance of all of my traditional IRAs?

I have my own traditional IRA as well as this non-spousal inherited IRA. I take an RMD from the inherited IRA but I’m not at RMD age for my own traditional IRA.
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1 Reply

Should I include my non-spousal inherited IRA when Turbotax asks me to enter the Dec 31, 2024 balance of all of my traditional IRAs?

If you're not at RMD age and took no distribution, then TurboTax would not be asking you for your IRA balance at year end.

If the inherited IRA has a basis, then the total value of IRAs must be the value of the inherited IRA.

 

TurboTax won't handle the case where both your IRA and an inherited IRA have a basis.

 

@armybb2 

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