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I received a 1099-r. It is from a gross distribution from an IRA. I am the beneficiary. (my dad died 8/24/16). Is this distribution taxable?

I received a 1099-R.  The distribution is from a qualified plan (IRA).  Box 1 shows a taxable dollar amount.  Box 2 shows the same taxable dollar amount.  Box 2b shows taxable amount is not determined. 

I received a lump sum gross distribution from this IRA in the fall of 2016.  The plan was my Father's Mel Rodenbeck and he passed away in August of 2016.  I am the beneficiary.  Do I need to pay taxes on the gross distribution?

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I received a 1099-r. It is from a gross distribution from an IRA. I am the beneficiary. (my dad died 8/24/16). Is this distribution taxable?

You will enter the 1099R as follows:

 To enter pension and annuity Payments (1099-R)

  • Click on Federal Taxes
  • Click on Wages and Income 
  • Click on I'll choose what I work on (if shown)
  • Scroll down to Retirement Plans and Social Security
  • On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button
  • Enter the 1099R exactly as you have it.  If it says "unkown" in a box, leave that box blank.  Retirement accounts do not get a stepped-up basis on death, and are taxable income to the beneficiary.  
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