Question

I inherited an IRA from my mother and put some into my brokerage. The 1099-R now shows the entire amount as taxable. Don't inherited IRA's have basis, a non taxable amt?

Forum|Forum|3 years ago
March 29, 2023
1 reply
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TurboTax Online

Employee

Generally, no.

you would need access to your mom's tax returns and/or other tax records to know if she ever made non-deductible contributions that would constitute a basis.

@reitzg

D

dmertz

Employee

If your mother had basis in nondeductible traditional IRA contributions, it would be present on her most recent Form 8606 filed, generally on line 14.