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posted Apr 16, 2022 3:38:36 PM

Is an inherited distribution of an annuity payment taxable

My wife received a 1099R from Equitable Financial Life - she received this money after her mother died last year.  The distr code is 4D, so it's some sort of annuity payment.  
I thought inherited money is not taxable?  Although know a 1099R is taxable...I'm confused!

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Level 15
Apr 16, 2022 5:11:23 PM

What your wife inherited is Income in Respect of a Decedent (IRD).  It's taxable income the same as it would have been taxable income if it was paid to your wife's mother before she died.