Both my wife and I took IRA distributions in 2021.
Mine, a single lump sum partial distribution converted to Roth.
Her's, two small RMD's from inherited IRA's.
We both received appropriate 1099R's. Her's though, are "HER NAME," FBO "Decedent's Name" IRA.
We are both over 65
Both have substantial remaining traditional IRA accounts.
TurboTax asking only for my EOY IRA valuation.
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The December 31, 2021 value for a Traditional IRA will only be required if it has been indicated that there were non-deductible contributions made to the account at some time. If that is the case, then the year-end value is needed to determine the taxable amount of the distribution.
Your wife's end-of year value of her IRAs is irrelevant for inherited IRAs (Code 4).
Your end of year value is not important if there is no basis in your IRA.
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