Survivor Benefits

Forum|Forum|4 years ago
February 7, 2022
1 reply
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I received a one-time survivor benefit from my father's pension in 2021.

I had two options. One option was to receive the money tax-free if deposited into an IRA. The other option was to receive the money with tax taken out if deposited into a bank account.

I choose to receive the money with tax taken out and deposited into my bank account.

Is there anything I need to do in regards to this when filing my 2021 taxes? I have not received a 1099-R.

TurboTax Self Employed Online

DianeW777

Level 15

Yes. You will receive a Form 1099-R with the amount of the distribution and the taxable amount. It will also include and show the amount of federal income tax withheld so that it will be included as a payment on your tax return.

Contact the plan administrator if you do not receive the form with in a few days. It's possible to have it emailed to you quickly. They had until January 31st to issue the form to you.

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Arch StantonAuthor

Level 3

Actually, I just called them. The reason I didn't get the 1099-R is because I moved and the letter is not forwardable.

So, they gave me the numbers off the 1099-R over the phone. Being that I'm filing online electronically, this should suffice, right?

DaveF1006

Level 15

Yes, if you enter the information correctly, this will suffice. Be sure you have the correct EIN for the company as this is very critical for successful electronic filing of your return.

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