I've been getting 31099-R forms for many years, for my deceased spouse. This year, the distribution code is 7 on 2 of them 4 on the other one. Is the 7 incorrect?

posted

Connect with an expert

3 Replies

I've been getting 31099-R forms for many years, for my deceased spouse. This year, the distribution code is 7 on 2 of them 4 on the other one. Is the 7 incorrect?

I will ask our expert on this subject -

@dmertz could you help?

I've been getting 31099-R forms for many years, for my deceased spouse. This year, the distribution code is 7 on 2 of them 4 on the other one. Is the 7 incorrect?

A code 4 indicates an inherited IRA that remains in your spouses name with you as benificuary. Since you are the spouse, you can choose to have the IRA treated as your own, then it will be your IRA and will no longer be inherited. It would appear that you have already done that with the other two accounts. Ask the IRA custodian about this.

**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.**

I've been getting 31099-R forms for many years, for my deceased spouse. This year, the distribution code is 7 on 2 of them 4 on the other one. Is the 7 incorrect?

For income tax purposes the distributions from all accounts are treated the same.

Still have questions?