Other financial discussions

 

 

 

 

The inherited IRA must remain in your fathers name but should be payable to the beneficiary with the beneficiary SSN in the 1099-R.  Each named benificuary should receive a separate 1099-R.

 

What code is in box 7?

 

Were you (and siblings) the named beneficiary or was the estate the benificuary?

 

Was the distribution made prior or after death?

 

Was the account trustee notified of the death so they could change the payee and name?

 

 

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**