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Do i need to claim a 1099R 4 from my dads pension plan after he died. I am 57, do I need to claim this on my taxes?

 
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Accepted Solutions
KatrinaB
Intuit Alumni

Do i need to claim a 1099R 4 from my dads pension plan after he died. I am 57, do I need to claim this on my taxes?

I am sorry for your loss. 

If the 1099-R has code 4 in box 7, then you need to report the form on your tax return. Code 4 will indicate that you are claiming income as a beneficiary and you will not be charged the 10% early withdrawal penalty for the distribution.


[Edited 02/27/2019 I 10:35 PM]

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4 Replies
KatrinaB
Intuit Alumni

Do i need to claim a 1099R 4 from my dads pension plan after he died. I am 57, do I need to claim this on my taxes?

I am sorry for your loss. 

If the 1099-R has code 4 in box 7, then you need to report the form on your tax return. Code 4 will indicate that you are claiming income as a beneficiary and you will not be charged the 10% early withdrawal penalty for the distribution.


[Edited 02/27/2019 I 10:35 PM]

Do i need to claim a 1099R 4 from my dads pension plan after he died. I am 57, do I need to claim this on my taxes?

It is my name because I was one of two beneficiaries
KatrinaB
Intuit Alumni

Do i need to claim a 1099R 4 from my dads pension plan after he died. I am 57, do I need to claim this on my taxes?

Please see my edited answer above.

Do i need to claim a 1099R 4 from my dads pension plan after he died. I am 57, do I need to claim this on my taxes?

thank you. I have another question about a 1099 misc.  it is for royalties on our property for $148.25, the only deduction says Prod/Taxes 2.22 and other deductions 4.63 for a total of 141.40.  where do i file this?
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