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April 16, 2024
Question

The original retirement plan owner is not dead. how to not include this

  • April 16, 2024
  • 2 replies
  • 0 views
i'm being asked when was the original retirement plan owner born. but this does not apply to me

2 replies

fanfare
Employee
April 16, 2024

If you entered 1099-R with distribution code "4", somebody is dead, but not you, obviously.

 

@claireneil 

Employee
April 16, 2024

You only report IRA withdrawals on your tax return if you are the owner (or your spouse is the owner and you are filing jointly) or you are the beneficiary of an inherited IRA.  If you are being asked for the date of death of the prior owner, then Turbotax thinks this is an inherited IRA.  That is normally indicated by code "4" in box 7 (it can be combined with other codes).  If this is not an inherited IRA, double check your 1099-R and your entries in turbotax.  If the 1099-R has code 4, you need to get a corrected 1099-R from the payer.