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June 1, 2019
Question

Accountants have told me that I don't have to pay taxes on a 1099 R inherited - lump sum amount... Death of family - true ?

  • June 1, 2019
  • 2 replies
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2 replies

Employee
June 1, 2019
What type of 1099-R: Pension? IRA? Life Insurance? Annuity?
Is there a reason you do not trust the accountants, and are asking the public?
June 1, 2019

You do pay tax on the 1099-R if it is a taxable account. But, you are excluded from the 10% penalty for early distribution.

Employee
June 1, 2019
It may depend upon the type.