Do I list 1099 with no taxable amount?

[randadawn]

My husband inherited his deceased father's various retirement accounts in 2016. We received a 1099 for each account and it is not taxable. He rolled all accounts into a new inherited IRA account with a brokerage firm. He withdraw about $16,000, which is taxable, and we have a 1099 from the brokerage firm. Do I list all 1099s as income? TT totals the income from 1099s, so the $16,000 is being counted twice for the purposes of our total income- once from the father's retirement account and once from the brokerage account.

[TomYoung · Accepted solution]

Yes, you certainly need to report all 1099's.

You can't simply click out of the 1099-R interview when you are done entering the 1099-R.  You must continue through the interview beyond the "data entry" process so that the program can ask you questions about the 1099-R you just entered.  It's the follow up interview process that determines how the dollar amounts are actually reported in your income tax return.  If you do this properly all the 1099-R's reporting distributions out of the father's retirement accounts should end up being non taxable.

Tom Young