How do I designate money that was inherited from a deceased siblings IRA, etc.?

posted

Connect with an expert

1 Best answer

Accepted Solutions

How do I designate money that was inherited from a deceased siblings IRA, etc.?

If you have a 1099R, the codes will indicate on line 7 "Death". That means it is inherited.

Here are the steps:

Federal
Income & Wages
Retirement & Social Security
IRA, 401(k), Pension Plan Withdrawals (1099-R)

View solution in original post

1 Reply

How do I designate money that was inherited from a deceased siblings IRA, etc.?

If you have a 1099R, the codes will indicate on line 7 "Death". That means it is inherited.

Here are the steps:

Federal
Income & Wages
Retirement & Social Security
IRA, 401(k), Pension Plan Withdrawals (1099-R)

Still have questions?