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Retirement tax questions
My wife and older sister had a younger sister who died without other heirs in 2019. Her death benefit from her retirement plan was sent to my wife together with the 1099-R. My wife then tranferred 50% of the benefit to her older sister, who reported it as income together with 50% of the income tax witheld. How do we report that without having the entire distribution taxed to my wife?
‎October 12, 2020
8:50 AM