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Related to 1099-R. We have an inherited IRA from father who passed away in 2017. Need assistance on how to answer where is this distribution from?

Forum|Forum|7 years ago
June 3, 2019
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TurboTax Deluxe Online

Best answer by KiaraE

Generally speaking, only the distributions from an inherited traditional IRA are taxable, just as they are for non-inherited traditional IRAs. Distributions from an inherited Roth are not taxable unless the Roth was established within the past 5 years.

Inherited 401(k) plans are (or eventually will be) taxable but the amount of tax depends on the 401(k) plan rules.

Make sure to enter the 1099-R form into Turbo Tax exactly as it appears and answer the follow up questions.

Open (continue) return if you don't already have it open.
Inside TurboTax, search for 1099-R or 1099R (lower-case works too) and then select the "Jump to" link in the search results.
Answer Yes on the Your 1099-R screen, then click or tap Continue.

Carl11_2

Employee

Whose SSN is on the 1099-R as the recipient of the distribution?

K

KiaraEAnswer

Employee

Generally speaking, only the distributions from an inherited traditional IRA are taxable, just as they are for non-inherited traditional IRAs. Distributions from an inherited Roth are not taxable unless the Roth was established within the past 5 years.

Inherited 401(k) plans are (or eventually will be) taxable but the amount of tax depends on the 401(k) plan rules.

Make sure to enter the 1099-R form into Turbo Tax exactly as it appears and answer the follow up questions.

Open (continue) return if you don't already have it open.
Inside TurboTax, search for 1099-R or 1099R (lower-case works too) and then select the "Jump to" link in the search results.
Answer Yes on the Your 1099-R screen, then click or tap Continue.