I have a slightly different question.
I have a problem with taxes on some of the inheritance from my Mom. She had 3 annuities as part of her IRA. These annuities were paying out to her. When she passed, the remaining value of the annuities was divided between my sister and myself and we received checks addressed to us from the companies.
My mom's financial advisor had us send him the checks and he deposited the checks into our decedent IRAs.
However, I received 1099-R forms for these annuities with code 4 in Box 7. When I enter this into Turbotax, it looks like these proceeds are taxable and there is no way to state that they were rolled into the decedent IRA.
My financial advisor says this it a legal transfer and I will get a 5498 form from them in May showing that the proceeds of the annuities were deposited into my decedent IRA.
how do I do this with Turbotax?
Michelle
