Deceased parent had IRA which was distributed and I rolled into IRA BDA account. Is this distribution reported on 1099 R taxable?

Forum|Forum|7 years ago
June 6, 2019
3 replies
23 views

Payer generated 1099 R with full amount listed as taxable.

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dmertz

Level 15

A non-spouse beneficiary is not permitted to roll an IRA distribution over to an IRA BDA account, so TurboTax will not permit an non-spouse beneficiary to indicate that a code 4 distribution from an IRA was rolled over. If the account was instead moved by trustee-to-trustee transfer where the money leaving your parent's account was paid directly to the BDA IRA and was never paid to you personally, contact the IRA custodian to obtain a corrected Form 1099-R to show that $0 was distributed to you. A trustee-to-trustee transfer of an IRA is neither a distribution nor a rollover and is not reportable by the IRA custodian.

dschriberAuthor

Level 2

I was advised to set up a BDA IRA. Based upon your answer this is not correct since the distribution was paid to me and then deposited into the BDA account.