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Veneia Michelle
Veneia Michelle
Level 2
July 14, 2020
Question

Inherited IRS

  • July 14, 2020
  • 1 reply
  • 7 views

Hello, How do I complete Form 8606 for an Inherited IRA where the mom's total basis for 2018 was only $839.00 and it's to be split for a brother and sister who both inherited part of the IRA.  My client is he brother....

Thanks.

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1 reply

George4Tacks
George4Tacks
Level 15
July 15, 2020

How about using $419.50 as basis. 

https://proconnect.intuit.com/community/individual/help/where-do-i-enter-the-ira-basis-and-year-end-value/00/5615

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