I am in my 70s and have an IRA that I inherieted from my mother (who was taking RMDs). The 1099-R from 2022 (which I assume will be similar to this year) shows
13,000 gross dist 13,000 taxable dist Taxable amount not determined is checked 2,600 fed tax withheld Box 7 is "4" death IRA box is checked.Now, I enter that into a tax program for 2023 That IRA has no basis.
My wife (age 70) has an IRA with a small basis, but is not taking any distributions. If I look at 1040-SR, line 4a IRA distributions is 13,000, but Taxable is ZERO! I do not understand how my taxable IRA distribution disappeared.
If I have my wife do a 10,000 IRA -> ROTH IRA conversion, then 1040-SR shows
23,000 is IRA distribution, but Taxable is only 9,840