Retirement tax questions

A code 7 is *your* IRA and NOT an inherited IRA, so the interview will be different -  that might work as a workaround UNLESS there is an amount of Federal tax withholding in box 4.   Then the IRS will receive a copy of what you entered for the 1099-R and entering a code 7 in place of a code 4 is sure to receive an audit letter from the IRS.  (If nothing in box 4, then  ONLY the 1040 is sent to the IRS and not the 1099-R that you entered.)

 

 

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**