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Retirement tax questions
Given that TurboTax does not offer the option to indicate a rollover, I assume that the beneficiary is not the surviving spouse of the decedent. This means that the deposit into the receiving account is an excess contribution subject to penalty unless removed by a return of contribution before the due date of the 2022 tax return, including extensions. The custodian of the receiving IRA should never have allowed this deposit to be made.
‎February 19, 2023
8:35 PM