MarilynG1
Expert Alumni

Retirement tax questions

Sorry for your loss. 

 

Your 1099-R may have Code 4 in Box 7 to indicate that it was inherited, and possibly also Code G to indicate the rollover. 

 

If the entire amount of the inherited IRA was rolled over, indicate in TurboTax that 'all of the distribution was RMD'.

 

Since the date of death was November 2018, the RMD is considered taken for 2018 by the plan owner's distributions prior to death.

 

Provided that a separate account for each designated beneficiary was established by December 31, of the year following the year of death, each beneficiary will be required to calculate and take their own RMD as beneficiary from their own inherited IRA account. 

 

Click this link for more info from the IRS on Distributions from IRAs. 

 

 

 

 

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