USA 1099R, IRA Beneficiary

[skeeter562]

As a beneficiary, I received a 1099-R for half (other half to sibling) of an IRA mom had after her death. That amount was entered as part of taxable income on 1040, line 15b. Is that correct? Would this amount also be entered on form 8880, line 4 if using this form to claim credit for contribution to my own IRA? The tax software I’m using is prompting me to do so.
Thanks!

 

[Lams]

I need to know more about trading profit and lost account

 

[maarkr]

just wondering why the IRA was distributed after her death?.. should have been inherited with no taxes due, and no penalty, so there would be your IRA. but, you would claim your distribution on line 15b, and the IRA deduction on line 32, and may give you a contribution credit depending on your income and other factors. There may be more here than I may be able to comment on properly.