Inherited IRA Distribution

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My 19 year old daughter inherited her father’s traditional and Roth IRAs when she was 14 years old. Beginning in 2023, she is taking a distribution from both the traditional and Roth IRA which is then being deposited into a mutual funds account. When filing her income tax return, what option should she choose in TurboTax for “where is this distribution from?”

cvtdAuthor

Level 2

Which option applies to my daughter’s situation?

MarilynG

Alumni - Intuit

If your daughter received a 1099-R from an inherited Roth and traditional IRA combined on one form, there should be a Distribution Amount in Box 1 and a Taxable Amount in Box 2a.

Her 1099-R may also have Code 4D in Box 7.

If her father not was a US Government or New York state employee, 'None of the above' would be the appropriate choice.

Here's more detailed info on an Inherited IRA.

@cvtd

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