TurboTax is asking the question "Did Andrea inherit this TD AMERITRADE CLEARING INC IRA"? She inherited the IRA from her father when he died, but it was not in a TD AMERITRADE account at the time -- it was transferred into this account. So is the correct answer "Yes" or "No"?
You'll need to sign in or create an account to connect with an expert.
Yes, this is an inherited account. Transferring the account from one financial institution to another cannot change that. Any distribution from this account should have code 4 in box 7 (unless it's a Roth IRA).
(The current account should be titled as Father, deceased, FBO Daughter, beneficiary, or something like that. If it's titled in Daughter's name only, that's a problem.)
Yes, this is an inherited account. Transferring the account from one financial institution to another cannot change that. Any distribution from this account should have code 4 in box 7 (unless it's a Roth IRA).
(The current account should be titled as Father, deceased, FBO Daughter, beneficiary, or something like that. If it's titled in Daughter's name only, that's a problem.)
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
ronloftis
New Member
mooney1234
New Member
moscosamykaill
Returning Member
Nem2
New Member
nikamarie
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.