Big difference in the approach. Mom passed in 2021 and my brother and I were beneficiaries of an account. Disbursement were made directly to each of us and we each withheld taxes.
Q: As beneficiaries, is it inheritance? Is there a difference in terminology to the IRS?
If I put "yes" to the "inheritance" question, it asks who died and when and the taxes apply. If I put no, because I was deemed a beneficiary, the taxes do not apply.
Anybody?
TIA
