Skip to main content
Level 5
March 6, 2020
Solved

INHERITED IRA

  • March 6, 2020
  • 2 replies
  • 31 views

Taxpayers have contributed to non-deductible IRA's in the past, so we show basis in the program.  Spouse inherited IRA on death of her mother.  ProSeries is "using some of the basis to make the IRA distribution tax free, but that is a totally different IRA.  The 1099-R is coded box 4.  Is there someway to mark this so the basis isn't used up?

This topic has been closed for replies.
Best answer by rbynaker

Scroll down on the 1099-R Wks to the inherited IRA section and check the box for inherited from someone other than spouse.

2 replies

rbynaker
rbynakerAnswer
Level 13
March 6, 2020

Scroll down on the 1099-R Wks to the inherited IRA section and check the box for inherited from someone other than spouse.

Level 4
February 16, 2021

Checking the box for year 2020 Does Not Work