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My 401k withdrawal was used to pay my mothers fineral bill
I used a 401k withdrawal to pay for my mothers funeral. It says death is a reason that will lower my tax bill but does it matter whose death it was?
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My 401k withdrawal was used to pay my mothers fineral bill
No, the Box 7 Code 4 Death applies to inherited retirement distributions- if you receive the distribution as a beneficiary, you do not have to pay the additional tax. In your case, it does not apply. I am sorry for your loss.
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My 401k withdrawal was used to pay my mothers fineral bill
No, the Box 7 Code 4 Death applies to inherited retirement distributions- if you receive the distribution as a beneficiary, you do not have to pay the additional tax. In your case, it does not apply. I am sorry for your loss.
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**Mark the post that answers your question by clicking on "Mark as Best Answer"
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