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Level 1

Why was RMD from a non-spousal inherited IRA not included on form 8606, line 7? I included this nontaxed inherited IRA in the value of all my yr. end trad. IRAs line 6

 
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Level 11

Why was RMD from a non-spousal inherited IRA not included on form 8606, line 7? I included this nontaxed inherited IRA in the value of all my yr. end trad. IRAs line 6

"I included this nontaxed inherited IRA in the value of all my yr. end trad."

You should know that inherited IRAs must be treated separately from your own traditional IRA(s), so don't do that.

And why do you think it is non-taxed.?

TurboTax does not support Form 8606 for an Inherited IRA with a basis.

4 Replies
Level 1

Why was RMD from a non-spousal inherited IRA not included on form 8606, line 7? I included this nontaxed inherited IRA in the value of all my yr. end trad. IRAs line 6

The total amount of this RMD seems to be  added to the result from line 18 , to be included on line 15b of my 1040.  Why wouldn't it be included on form 8606?  and if not, should I subtract the yearend value it from line 6 on the 8606 form?
Level 11

Why was RMD from a non-spousal inherited IRA not included on form 8606, line 7? I included this nontaxed inherited IRA in the value of all my yr. end trad. IRAs line 6

"I included this nontaxed inherited IRA in the value of all my yr. end trad."

You should know that inherited IRAs must be treated separately from your own traditional IRA(s), so don't do that.

And why do you think it is non-taxed.?

TurboTax does not support Form 8606 for an Inherited IRA with a basis.

Level 1

Why was RMD from a non-spousal inherited IRA not included on form 8606, line 7? I included this nontaxed inherited IRA in the value of all my yr. end trad. IRAs line 6

I really don't know if the inherited IRA was non-taxed, but I don't have any way of finding out for sure.   thanks for your reply.
Level 20

Why was RMD from a non-spousal inherited IRA not included on form 8606, line 7? I included this nontaxed inherited IRA in the value of all my yr. end trad. IRAs line 6

fanfare is correct - You cannot, by law, combine your personal IRA 8606 basis with the basis (if any) in a non-spouse inherited IRA.  They must be kept separate on a stand-alone 8606 that cannot be e-filed with TurboTax.  The inherited IRA 8606 must be completed manually and attached to a mailed tax return.