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New Member
posted Jun 4, 2019 1:29:44 PM

1099 R amount is an inheritance but you show it as taxable income? How do I correct this?

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1 Replies
New Member
Jun 4, 2019 1:29:45 PM

Unlike most other assets, retirement plans and IRAs do not receive a basis step up at death.  A distribution from a retirement plan or IRA (except a Roth IRA) is taxable income to the heir or beneficiary to the same extent the distribution was taxable to the decedent if the decedent were still alive.  Please read on for more information.

https://ttlc.intuit.com/replies/4790205