Level 9
01-16-2024
11:02 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
No, I don't believe you can use IRA basis for inherited IRA. The only way I have found to keep it from happening is to go into the 8606-T and override line 10 of part 1 to read 0.00000%. You have to ignore override on e-filing but basis is then not attributed to inherited IRA distribution.