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Retirement tax questions
The trustee-trustee transfer of your father's IRA to your inherited IRA is technically a rollover.
You can indicate while entering the form 1099-R that you rolled over the total amount to an IRA and the transfer is not taxable.
Enter your form 1099-R by following these steps:
- In TurboTax, open your tax return
- Click on Federal in the left-hand column, then on Wages & Income on top of the screen
- Scroll down and locate the section Retirement Plans and Social Security and click on Show more
- Click Start next to IRAs, 401(k), Pension Plan Withdrawals (1099-R).
- Enter your form 1099-R and follow the interview
- When you arrive to the page Tell us if you moved the money through a rollover or conversion, click on the radio button I rolled over some or all of it to an IRA or other retirement account within the time limits (normally 60 days)
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March 14, 2022
11:30 AM