I inherited an IRA from my brother who passed away in 2021. I was supposed to take a distribution no later that the year following his death. I put in for the distribution at Vanguard on the 28th, but it took them until after December 31st to distribute it. I never received a 1099R. I've read that you can be penalized 50 percent for this, but the IRS can make an exception. I was going to include a letter.
First of all, how do I reconcile this? Do I try filling the 15k in distributions for the 2022 tax year or 2023 tax year? I may actually receive the 1099R for 2023. The problem with Turbo Tax is that it wants all this information for a 1099 I never received. It is taxing me about 5k for the 15k in inherited distributions I took out. I think it is calculating penalties or something, since I don't have the correct code. Can anyone help?
