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Returning Member
posted Apr 8, 2024 5:07:17 PM

How do I report the RMD taken on my deceased husband’s IRA before the IRA account was moved into my name in a newly created IRA account? My husband did not make nondeductible IRA contributions.

The facts

1) My husband passed in late January 2023; he was 82 years old

2) My husband had a traditional IRA in his name

3a) Three months after his passing, my husband's RMD was taken out, federal taxes were withheld, and I received a check for the withdrawal; I did not roll the amount received into an IRA in my name - this amount is taxable in my view.

3b) However, as the named beneficiary of the IRA, I moved the remainder (total IRA dollar amount minus the RMD) of his IRA into an IRA account in my name

4)  I received a 2023, 1099-R in my name for the RMD gross distribution amount; 10% taxes were withheld.

5) box7 was checked as code 4: Death

6) TT asks the question: Did I inherit the IRA? DO I ANSWER YES OR NO?

7)  If I answer YES then TT asks a series of question about if I am the spouse; My spouses first name, and the year my husband passed

😎 The next question asks if I put the inherited funds into my own IRA account THIS IS WHERE I AM LOST because I did not put the RMD into my own IRA account (I kept the cash), but I did put the remainder of the IRA funds into my own IRA account

9) The next questions asks if my husband had any nondeductible IRA contributions: NO, HE DID NOT

10) The next question asks when my husband was born: before Jan 1, 1950 is the correct answer

11) For the next questions I answered: Yes, the withdrawal was the RMD and yes, the entire distribution was the RMD amount

12) I did not put the distribution I received (from 3a above) into a qualified charity, and I did not put it into an Health Saving Account (HSA). Furthermore, the withdrawal was not due to any qualified disaster.

DID I DO THIS CORRECTLY IN TT?

0 3 4696
3 Replies
Expert Alumni
Apr 8, 2024 5:23:54 PM

To clarify, did you only receive ONE 1099-R for the inherited distribution?

Does that 1099-R include the amount that was the RMD?

Was a second 1099-R issued in your late husband's name for the RMD? 

Returning Member
Apr 8, 2024 5:32:34 PM

Thank you KrisD15 for responding to my question

 

1) I received only one 1099-R for the inherited RMD and it was in my name (not my deceased husband's name)

2) Yes the 1099-R amount is ONLY the RMD amount (recall, I put the remainder in my own IRA account)

3) No, a 2nd 1099-R was not issued in my deceased husband's name

Level 15
Apr 8, 2024 6:49:17 PM

6)  Answer Yes.

7)  Answer No.  (TurboTax is asking only about the distribution reported on this Form 1099-R).