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kleezz4444
June 3, 2019
Solved

I am a little concerned about a 1099-R I received from an IRA account my dad had before he passed.

  • June 3, 2019
  • 3 replies
  • 0 views
No taxes were taken out.
Best answer by RBBrittain
Distribution code 4 is "death". Enter it in your return (under Retirement Plans & Social Security); TurboTax will figure out what to do with it.

3 replies

R
RBBrittain
Employee
June 3, 2019
Is this under his name & SSN, or yours? What is the distribution code in Box 7?
K
kleezz4444Author
June 3, 2019
It is made out to me with my dad's name as me being the beneficiary. My SSN and box 7 has a 4 in it.
R
RBBrittainAnswer
Employee
June 3, 2019
Distribution code 4 is "death". Enter it in your return (under Retirement Plans & Social Security); TurboTax will figure out what to do with it.
fanfare
fanfare
Employee
June 3, 2019
It might be more soothing to refer to Code 4 as "inherited".
In any case, it is all  taxable income, unless your father had a basis in his IRA.
You'd need access to all his tax records to know this.
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