Solved
Non-spousal inherited IRA
Client has had non-deductible IRA basis that's been reported on Form 8606 for many years. He is not 72 and has never taken out of his own IRA's. However, he inherited an IRA from his father. Does he use some of his basis from his own non-deductible IRA to reduce the taxable amount of this non-spousal inherited IRA?
