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mgally
New Member

My mom passed away and her IRA was closed and the money distributed between 6 beneficiaries. How do I answer the question about the RMD?

 
4 Replies
macuser_22
Level 15

My mom passed away and her IRA was closed and the money distributed between 6 beneficiaries. How do I answer the question about the RMD?

What code is in box 7 of the 1099-R you received?

**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.**
macuser_22
Level 15

My mom passed away and her IRA was closed and the money distributed between 6 beneficiaries. How do I answer the question about the RMD?

Actually the RMD question is only material if only the RMD amount was distributed.    If the entire IRA was liquidated and distributed then the answer is irreverent - just say that it was all a RMD.

**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.**
VolvoGirl
Level 15

My mom passed away and her IRA was closed and the money distributed between 6 beneficiaries. How do I answer the question about the RMD?

Did one person get the 1099R for the whole amount or did you each get your own 1099R?

dmertz
Level 15

My mom passed away and her IRA was closed and the money distributed between 6 beneficiaries. How do I answer the question about the RMD?

TurboTax only asks this question to determine how much might be eligible for rollover.  However, since a non-spouse beneficiary is not permitted to roll any of this distribution over, it doesn't matter how you answer the question.  Simply say it was all RMD.

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