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armybb2
February 16, 2025
Question

Should I include my non-spousal inherited IRA when Turbotax asks me to enter the Dec 31, 2024 balance of all of my traditional IRAs?

  • February 16, 2025
  • 1 reply
  • 0 views
I have my own traditional IRA as well as this non-spousal inherited IRA. I take an RMD from the inherited IRA but I’m not at RMD age for my own traditional IRA.

    1 reply

    fanfare
    fanfare
    Employee
    February 16, 2025

    If you're not at RMD age and took no distribution, then TurboTax would not be asking you for your IRA balance at year end.

    If the inherited IRA has a basis, then the total value of IRAs must be the value of the inherited IRA.

     

    TurboTax won't handle the case where both your IRA and an inherited IRA have a basis.

     

    @armybb2 

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