When calculating the cost basis for traditional IRAs with nondeductible contributions, are additional inherited IRA balances added to the total balance amount.

jarreau404 · ‎June 4, 2019

macuser_22 · ‎June 4, 2019

Only if you are the spouse of the deceased and choose to treat the inherited IRA as your own.

If inherited form a non-spouse then any basis in the inherited IRA must be kept separated and tracked on a separate 8606 form. That cannot be done with TurboTax since TurboTax does not support the 8606 for an inherited IRA. The 8606 would have to be manually prepared and attached to a mailed tax return.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

View solution in original post

macuser_22 · ‎June 4, 2019

Only if you are the spouse of the deceased and choose to treat the inherited IRA as your own.

If inherited form a non-spouse then any basis in the inherited IRA must be kept separated and tracked on a separate 8606 form. That cannot be done with TurboTax since TurboTax does not support the 8606 for an inherited IRA. The 8606 would have to be manually prepared and attached to a mailed tax return.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

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When calculating the cost basis for traditional IRAs with nondeductible contributions, are additional inherited IRA balances added to the total balance amount.