I am trying to set up incoming email for a SharePoint Discussion Board, i know for a fact that i can receive emails but is it possible to open the email via Outlook and then be able to reply and next the replied email then needs to be stored back in discussion list again under Replies
Create a calculated column and set it to return a number datatype. This allows you to enter and run code.
Copy paste the following (enter the actual name of the senders email column):
This will open up the user default mail application (such as Outlook) and automatically have the To field set to the senders email and what ever the inbox is of you sharepoint email address.
This results in a column that creates a link unique to each item. Now you just need to display that column and have your users click on that link.
As for storing it under replies.. You may be able to do something with a workflow based on the senders email (in this case a known SP user) where you set a tick box marking this email as a reply..