Inherited IRA - Inherited by Investment Company, not a person?

[madrat45]

I imported my inherited IRA information, and everything matches my paper copy. However, Turbo Tax asks if I inherited the IRA from the investment company. Since I inherited the IRA from a family member I clicked no - TurboTax did not ask whom I inherited the IRA from. This option reduced my IRA basis by the amount of the 2021 RMD taken, which resulted in a larger refund. 

Going back, if I answer that I did inherit the IRA from the investment company, it asks whom I inherited the IRA from, name of the person, death year, etc. Selecting that I did inherit the IRA from the investment company, does not reduce my IRA basis, resulting in a small refund. 

Would  anyone know if this is a glitch - I don't remember this happening in previous years....

Thank you in advance for your help!

[DanaB27]

If you inherited the IRA from a family member then you will have to select that it was inherited and enter whom you inherited the IRA from.

Can you please provide more details about your IRA and your 1099-R? Is it a Roth or a traditional IRA? What code is in box 7? You mentioned you had a basis in the IRA? 

[dmertz]

TurboTax Product Quality refuses to change this silly wording in TurboTax.  TurboTax is simply asking if the account is an inherited account, but that's generally already apparent from the code 4 in box 7.