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How do I document deceased mother in law name on the IRA on my tax form (currently only my and my wife's names are available on the TurboTax page)?

 
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1 Best answer

Accepted Solutions
maglib
Level 11

How do I document deceased mother in law name on the IRA on my tax form (currently only my and my wife's names are available on the TurboTax page)?

 A beneficiary IRA must be titled in the decedent's name for the benefit of the beneficiary. However, there's not a single, specific format for the name.The titling of an inherited IRA can vary from one IRA custodian to another. The deceased IRA owner's name must remain on the inherited IRA account title and the account title must indicate that it is an inherited IRA by using the word “beneficiary” or “beneficiary IRA” or “inherited IRA.

what is the specific TT question as the IRA must be in either yours or your spouses name with the decedents as above.

**I don't work for TT. Just trying to help. All the best.
***Say "Thanks" by marking as BEST ANSWER and clicking the thumb icon in a post and that I solved your question
**Mark the post that answers your question by clicking on "Mark as Best Answer"
I am NOT an expert and you should confirm with a tax expert.

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3 Replies
maglib
Level 11

How do I document deceased mother in law name on the IRA on my tax form (currently only my and my wife's names are available on the TurboTax page)?

[duplicate]
**I don't work for TT. Just trying to help. All the best.
***Say "Thanks" by marking as BEST ANSWER and clicking the thumb icon in a post and that I solved your question
**Mark the post that answers your question by clicking on "Mark as Best Answer"
I am NOT an expert and you should confirm with a tax expert.
dmertz
Level 15

How do I document deceased mother in law name on the IRA on my tax form (currently only my and my wife's names are available on the TurboTax page)?

To be reportable on your tax return, the payee shown on the Form 1099-R must be you or your wife.
Is the payee someone other than you or your wife?
Is this Form 1099-R reporting a distribution made before or after your mother-in-law's death?
maglib
Level 11

How do I document deceased mother in law name on the IRA on my tax form (currently only my and my wife's names are available on the TurboTax page)?

 A beneficiary IRA must be titled in the decedent's name for the benefit of the beneficiary. However, there's not a single, specific format for the name.The titling of an inherited IRA can vary from one IRA custodian to another. The deceased IRA owner's name must remain on the inherited IRA account title and the account title must indicate that it is an inherited IRA by using the word “beneficiary” or “beneficiary IRA” or “inherited IRA.

what is the specific TT question as the IRA must be in either yours or your spouses name with the decedents as above.

**I don't work for TT. Just trying to help. All the best.
***Say "Thanks" by marking as BEST ANSWER and clicking the thumb icon in a post and that I solved your question
**Mark the post that answers your question by clicking on "Mark as Best Answer"
I am NOT an expert and you should confirm with a tax expert.
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