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Enter the taxable amount in the Other income or loss section.
Thanks for the reply. I saw the same answer in a post for 2019 that was dated 2020. So no change in the simple way of adding this info. If you are not too busy.... all I am doing is giving information about the 1099-R amount? I am not giving Payer's name, address or their tax number information. How does this information get attached or given to the IRS?
Again... thanks for the help in understanding what is needed.
The 1099R should have a federal ID # on it for the administrator of the pension plan and a federal ID # on it for the recipient of the final distribution of the balance of the pension plan at the death of the decedent. That is how IRS would "match" the 1099R to the return.
A 1099R distributed to the trust/estate of the remaining balance in the retirement account at death distributed to the trust/estate would be entered as Other Income (can list 1099-R and name of plan in definition of "other" in return). A 1099-R retirement distribution in the Trust/Estate return will be taxed at the Trust/Estate tax rate.
The trust/estate must have a federal ID # of it's own.
The 1099R in the Father-in-law's name and SSN for the amount of pension he withdrew prior to his death belongs on his final individual income tax return.
I think I understand what you are telling me. I have the 1099-R with all the info the IRS needs. I will list the small information on the form and they will match up the proper 1099-R with what is listed on the form.
Yes- I have the other info and ready to fill out the form.
Every question is asked by the software, but not 1099-R.
Thanks for the help.
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