1099-R Question

[marketter]

My wife received a 1099-R when her mother passed away.  The taxable amount was deducted and the remainder of these funds were deposited to her PruCo brokerage account, where funds still remain in money market.  How do I file this?

[robtm]

Go to Wages & Income, Retirement Income, Pension Plans, enter 1099-r information. It doesn't matter what is done with the money.

[HelenC12 · Accepted solution]

Enter the 1099-R exactly as it reads or you may be able to import it. See Where do I enter my 1099-R?

After you enter you, you'll be able to answer follow-up questions on what you did with the funds.  You'll get credit for the amount of income taxes paid. Generally, inherited retirement funds are taxable to the beneficiary.