How would i inherit an ira from vanguard fiduciary trust? i inherited it from my mother, but the payer on 1099r is listed as vanguard fiduciary trust.

[rebecca-o-jackso]

first responses are not relevant to question

[tagteam · Accepted solution]

Vanguard is the financial institution that has the obligation to issue the tax reporting statement (1099-R).

Your mother was the plan participant (i.e., beneficiary) while you are, apparently, the designated beneficiary of the IRA. As such, you did not "inherit" the IRA from Vanguard, you "inherited" it from your mother.

[Opus 17]

I don't think we understand your question.  With an inherited IRA, the PAYER's name would be Vanguard, and the PAYEE's name should be something like "John Smith as beneficiary for Mary Smith".

Does your 1099-R say something different?  You may need to call Vanguard directly.  

[VolvoGirl]

Why did you get the 1099R?  Did you cash it out or move it to your own IRA? What code is in box 7?

[fanfare]

the confusion causing question should be 

"did you inherit this IRA at Vanguard?"

not 

"did you inherit this IRA from Vanguard"

Note: an inherited IRA must show a distr code of 4.

[fanfare]

Don't edit your original post. that also just causes confusion.

[tagteam]

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@fanfare wrote:

Don't edit your original post. that also just causes confusion.

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The original post has not been edited, at least not after I posted the first response. Perhaps the original poster asked the question under a different username and the answers were not relevant.

[dmertz]

TurboTax Produce Quality has declined to fix the improper wording of this question being presented by TurboTax despite it causing a great deal of confusion among users.  It's been a problem for years.