I am the Adm of my brother's estate. I received a 1099 form with a distribution code 4. The ira/sep box is checked. The account was closed to settle the estate and the funds were distributed to a beneficiary who is 90 years old. I withheld 20% of the funds for taxes before distribution. I'll have to file a 1041 for the estate. How should this income be reported? There were some losses on the sale of the stocks held in the account. Will the money provided to the beneficiary be taxable? Thank you.
