Assume if Mary's mother, Jill, who is 94-years old, passed away in the current year. At the date of her death, she has the following IRA: IRA in Jill's name - FMV $250,000 $20,000 The non-deductible contributions on Form 8707 that were reported Federal estate taxes paid on this IRA were $100,000 Beneficiaries: Mary Hess 100% Assume a few months later, Mary receives the IRA and the value is $242,000 and she decides to take a $50,000 distribution. How will this transaction be reported on their tax return?