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New Member

I have questions about 401K I inherited

They kept 10,000 for taxes from 401K I inherited. Will I get some or all back? A local tax guy just confused me
1 Reply
Expert Alumni

I have questions about 401K I inherited

The answer is based on your individual tax situation.

You will received a Form 1099R that will be used to report the inherited 401(k) income and the withholding you mentioned.  Once the 401(k) income is added to the other income on your tax return, the total tax will be determined after allowable deductions, exemptions and/or credits.

The withholding from this income, along with any other withholding such as from a W2 will be added together to determine if enough tax was paid in for you and whether you have a refund. 

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