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February 26, 2021
Question

Why is the income from my 1099-R not showing as taxable?

  • February 26, 2021
  • 1 reply
  • 0 views
It's an inherited IRA from a deceased spouse and it was placed into an IRA in the name of the surviving spouse and taken as a normal distribution.

1 reply

DaveF1006
February 26, 2021

Yes, this should be taxable income if taken as a distribution. Check the 1099-R entries to see if it wasn't recorded as a rollover into another retirement account.  Check the distribution code in box 12 to see if it is listed as a 4 or 7.

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