1099R Death of spouse

Forum|Forum|2 years ago
February 24, 2024
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My wife died in 2023 after taking her full IRA RMD. I rolled her IRA into my own and then took my RMD. For her form 8606, I carried over her basis from her 2022 return and used the date of death account value as the year end value of her IRA. How do I get her remaining basis into my IRA? Do I calculate her 2023 end of year basis and add it to my basis from 2022 when Turbotax asks for my basis or do I wait until I do my 2024 return and then add her basis to my basis? How do I do either of these?

Best answer by dmertz

The basis rolled over to your own needs to be added to your own on the 2023 tax return. on the page that lists the Forms 1099-R that you have entered, click the Continue button. Answer Yes when asked if you have basis in nondeductible traditional IRA contributions. On the next page, click the EasyGuide button. TurboTax will present a page with checkboxes where you can mark the box to indicate that you inherited basis from your spouse. After doing that, enter the amount of basis that remains after subtracting the amount of basis applied to your wife's IRA distribution(s). TurboTax will then prompt you to provide an explanation of this adjustment to your basis. TurboTax will include the adjustment on line 2 of your 2023 Form 8606 by adding it to your own basis carried in from 2022.