If your uncle's executor received a 1099-R and you are one of three beneficiaries, here's how it works:
- Executor's Responsibility: The executor reports the total amount from the 1099-R on the estate's income tax return (Form 1041). The estate pays any taxes due.
- Beneficiaries' Responsibility: If the distribution was passed directly to the beneficiaries, the executor issues a Schedule K-1 to each beneficiary. Each beneficiary, including you, reports their share on their individual tax returns and pays any taxes due
For more details, check out the TurboTax's resources.
