Fanfare, I really do appreciate your answers. With that stated, all I trying to convey is that the bank that has the account in the name of "Estate of W... S...." is the beneficiary and has the deposit that requires the federal & state tax filings. Once again, the 1099-R is in the name of "Estate of W..... S......" I'm confused because the 1099-R has a distribution coded as "4G". With that code, the estate shouldn't have to pay taxes as it's been rolled over from one IRA to another IRA. When I attempted to use TurboTax Business to fill the federal return, there isn't a field to declare this deposit as a rollover. Advice on this message board stated to just list it as miscellaneous income. This results in a return that requires the estate to pay taxes that is at least 33% of the value of that deposit. In my mind, the 1099-R states that the income is a rollover and the estate shouldn't have to pay taxes, Unfortunately the entire value of that IRA was deposited into my brother's probate estate account instead of being rolled-over into the IRA that probate court gave us permission to do. Please advise & thank you.
