Distributions received from an inherited qualified pension are taxable. Code 4 in box 7 of your 1099-R means Death (meaning you inherited the pension).
You just enter the form 1099-R in TurboTax and follow the interview. Answer Yes to the RMD questions. Turbotax will include the distributed amount in box 1 of form 1099-R as taxable income.
To enter your form 1099-R in TurboTax, open
your return and follow these steps:
- Click on Federal in the left-hand column, then
on Wages and Income on top of the screen
- Scroll down to All Income, locate the Retirement plans and Social security section
- Click Show more and click Start next to IRA, 401(k), Pension Plan Withdrawals (1099-R)
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
