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I took the a death benefit payout on his IRA and rolled the money over into an new IRA in my name. How do I show that I rolled that taxable distribution into a new IRA?
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I took the a death benefit payout on his IRA and rolled the money over into an new IRA in my name. How do I show that I rolled that taxable distribution into a new IRA?
Are you the spouse of the decedent? Non-spouse beneficiaries are not permitted to roll an inherited IRA over to their own IRA.
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I took the a death benefit payout on his IRA and rolled the money over into an new IRA in my name. How do I show that I rolled that taxable distribution into a new IRA?
You can indicate that you rolled over the IRA distribution, using these steps:
- A few screens after the 1099-R input screen, you should see a screen, What Did You Do With The Money From [IRA institution]?
- Mark the radio button next to I moved the money to another retirement account (or returned it so the same retirement account.
- Below the grey line, click the
radio button next to: Rolled over all of this money to another traditional IRA...
- Click Continue.
- You'll get a confirmation screen that the distribution is not taxable.
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