Question

Inherited Pension Plan 1099R

Forum|Forum|4 years ago
February 5, 2022
1 reply
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I have a gross distribution of $10,380. Box 2a for taxable amount is blank, 2b is checked for taxable amount not determined. Turbo Tax is asking if the $10,380 is the taxable amount. I'm not sure what to put. Federal taxes of $1098 were in box 4. Deceased is over 72. Thanks

LeonardS

The 1099-R you received should have a Distribution Code of '4' in Box 7. This gross distribution is usually fully taxable to the beneficiary/taxpayer unless the deceased owner had made non-deductible contributions to the pension plan.

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