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Retirement tax questions
Yes it is and Yes it will. In January you will get a 1099-R for any distributions you took the prior tax year and this must be entered on your personal income tax return. There will be a code 4 in box 7 which will indicate that this is a distribution due to the death so you will pay regular income tax on it but not pay the 10% penalty for an early withdrawal.
‎December 18, 2023
4:37 AM
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