Inherited 1099R

Forum|Forum|1 year ago
February 10, 2025
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I inherited a non Qualified Annuity (4D in box 7 of 1099R).

Deceased was born before 1952, so the turbo tax is asking if the withdrawal was an RMD - since all accounts were closed upon death, so do I answer this question yes or no?

If I answer no - it ask me if I want to use the special averaging method?

if I answer yes, some was RMD, then it ask if all or part was RMD..how would I answer that?

SusanY1

If you took the entire amount out of the account already, you can answer that "yes" you took an RMD and that the all of the distribution was RMD. This will allow the program to properly treat the income so that there is no penalty for not withdrawing the minimum required amounts.

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