turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I inhertited a roth IRA frommy brother whopassed away. I then rolled itover to a new one with my bank. DO I need to enter a from for the roll over too?

I got a 1099-R form but I didnt get one from the new company I rolled it over to
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

I inhertited a roth IRA frommy brother whopassed away. I then rolled itover to a new one with my bank. DO I need to enter a from for the roll over too?

You are not permitted to roll over an inherited IRA.   The IRA custodian can transfer to to another account which is not a rollover but  It must be kept in the name of the deceased.

 

If you withdrew the money and put it in another account yourself then that is not a rollover but a new contribution to that account subject to the contribution limit rules $6,000 ($7,000 if over age 50) but not more then you taxable compensation.

 

What code is in box 7 on the 1099-R?

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
HelenC12
Expert Alumni

I inhertited a roth IRA frommy brother whopassed away. I then rolled itover to a new one with my bank. DO I need to enter a from for the roll over too?

You wouldn't get a 1099-R for a contribution, only a distribution. Please see Is an inherited IRA or retirement plan taxable?

 

Additional information: Where do I enter my 1099-R?

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies