Lump sum distribution from inherited IRA not reflected on 1099-R

[mikel67]

I received a check for a lump sum distribution from an inherited IRA and I'm confused about how to declare it.  The 1099-R I received has the "total distribution" boxed checked and a distribution code of 4, but only shows the RMD amount in boxes 1 and 2a.  No other amounts are listed.  When I enter this information, I don't see a way to tell TurboTax that I took the full distribution.  Am I missing something or is my 1099-R incorrect?

[fanfare]

IF the amount you received matches the amount in Box 1 - ( Box 4 and 14)

your1099-R is OK

yuu can ignore that checkmark

@mikel67 .

[mikel67]

Thanks @fanfare .  The amount shown in boxes 1 and 2a is $366.  The amount I actually received is $3439 and no taxes were withheld.  I suspect the 1099-R is wrong unless there is another way to show the full distribution.  Would the 1099-R typically show the full distribution when an IRA is distributed to the beneficiary following the account holders death?

[dmertz]

If you received $3,439 from this inherited IRA in 2023, the amount in boxes 1 and 2a should be $3,439.  Was the difference, $3,073, moved by nonreportable trustee-to-trustee transfer to another inherited IRA maintained for your benefit instead of being paid to you or was $3,439 actually paid out to you?

[mikel67]

Hi @dmertz .  The $3439 was paid out to me via check - it was not a nonreportable trustee-to-trustee transfer to another inherited IRA.  I expect to pay tax on the $3439 and not just the $366 shown on the 1099-R.

[dmertz · Accepted solution]

As you suggested, that Form 1099-R seems to have the wrong amount in boxes 1 and 2a, so you should contact the payer about this.  It would probably make sense to request a filing extension at this point, but you still need to pay your taxes by April 15, which you would do under the assumption that you will receive a Form 1099-R showing the entire $3,439 in boxes 1 and 2a.

[mikel67]

Thanks for confirming @dmertz.  I reached out to the payer and assume it will take a while to resolve.  I will recalculate my taxes based on what the 1099-R should say and file for an extension.  Appreciate the help.