I receive an RMA from an inherited IRA but I also made a 2018 contribution to a traditional IRA. Does the RMA, even though it is from an inherited IRA, disqualify me from receiving the retirement savings contribution credit for 2018?
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If you are a non-spouse beneficiary, the distributions from the inherited IRA have no effect on your eligibility for the Retirement Savings Contributions Credit and you should not enter them when TurboTax asks if you received any distribution in the 2 years prior to the current tax year, the current tax year or the subsequent tax year through the due date of your current year tax return.
If you are a non-spouse beneficiary, the distributions from the inherited IRA have no effect on your eligibility for the Retirement Savings Contributions Credit and you should not enter them when TurboTax asks if you received any distribution in the 2 years prior to the current tax year, the current tax year or the subsequent tax year through the due date of your current year tax return.
Does this apply to Life Insurance distributions as well?
@PR123 Life insurance generally is not related to your tax return unless you are maybe paying interest. What is your question?
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