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Retirement tax questions
I am filing my father's final tax return. He received an 1099-R for his 401K with "Total distribution" box checked. However, I know that the amount represented are only the RMDs that were withdrawn from the account and the remainder of his 401K was put into a different 401K account for his trust (which was the beneficiary).
So if I answer all the questions accurately, TurboTax allows me to take the special averaging method, but it seems this might not be quite accurate. Looking for confirmation that, upon death, the averaging method can still be applied if the remainder of the 401K was actually moved to a different account.
Thanks
March 3, 2022
12:45 PM