To designate an inherited annuity from a nonqualified plan you would Go to:
The 1099-R may have a 4 of 7 in Box (7)
If it's a 4 it represents the decedent's death.
If it's a 7 it's a normal distribution
- Wages & Income
- IRA, 401(k), Pension Plan Withdrawals (1099-R)
- Select your plan
- Continue through screens until you get to the input screen
- The IRA/SIMPLE/SEP box should not be checked
- Continue the interview
- Where is your distribution from? None of the above
- What kind of retirement plan do you have with XXXX? = Non-qualified plan
- Includes life insurance policies, private or purchased commercial annuities, and military retirement plans
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