Received a 1099R Form due to distributions from the retirement account of the deceased person as a beneficiary of the estate. Should the taxable amount be reported on Turbo Tax if the amount of assets inherited from the deceased person are well below the Federal Estate Exemptions? If I input the 1099R amount into Turbo Tax, it increases my tax liability. Box #7 on the 1099R form has a Code of 4 (indicating distribution is related to a death benefit.
