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@sjrcpa wrote:

If your client inherited 3% of the IRA I would move on.

The entire basis probably could not be more than $50K. 

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I read that (incorrectly!) as 33%.  But then I realized I don't really know how you would allocate IRA basis in a complex situation.  If there's only one account with 3 beneficiaries, no problem 1/3 of the assets, 1/3 of the basis, done.  If you have multiple accounts with different beneficiaries and different investments then at what point do you allocate basis over FMV?  I couldn't find the answer with a quick google so I stuck this on my calendar to research after 4/15.  My guess is that you would take FMV of all accounts at DOD and allocate basis to each account beneficiary on that ratio.