entering spousal inherited ira with basis and traditional ira with basis

have distribution from spousal ira with basis and

have traditional ira with basis.

Do both go on the 8606 together?

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Intuit Community Champion

Not sure what you are asking, but the 8606 is for nondeductible IRA, and each spouse fills out their own.

Level 15

It is also used to compute the taxable amount of an IRA distribution when there is basis in the IRA.

The more I know the more I don’t know.

Level 3

no. Is the inherited ira balance, with no basis, added to all other IRAs, on line 6, form 8606?

Both the distributions, are included on the 8606 (from the 1099 input) with the traditional ira

distribution amount, on line 7, form 8606

Level 3

the inherited ira distribution, with no basis, is in addition to,

the traditional ira with basis. Both distributions flow through to the, 8606

should the inherited ira balance be added to the traditional ira balance,

for line 6, of the 8606?

Intuit Community Champion

Do both Ira's belong to a surviving spouse that took a distribution from each one, and are both in name of surviving spouse

Level 3

yes. 1 is inherited IRA from spouse and 1 is this own IRA w/basis

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