question about 1099-r

[dbender333]

I have inherited retirement money from a deceased parent and was not personally receiving the income until August 2024 (father was keeping it prior to this and I was finally paid it in August as I moved out of his home). The 1099-r says the total amount that was paid that year was around 10,000, but I was only paid about 2,000 of it. When I enter the highest number into turbo tax it then says I owe about $300 to state government, but when I enter the amount I myself was actually paid I don't owe taxes. I am just wondering if me entering the amount I was paid rather than the amount that my father took would be cause for auditing or even illegal? First time tax filer here, I've never made enough to bother with it.

[maglib]

@dbender333   Sorry for your loss.  sounds like your father was withholding your money.  How old are you?  Seems like you have an issue to take up with your father and possibly the custodian of the funds.  If the 1099R says 10,000 was received, where is the rest of the money?  Did your dad keep it for rent?  DId you have agreements?  There are so many unanswered questions.

We need to find where the rest of the funds went to properly answer you.  Were they possibly rolled into another retirement vehicle?  

You must report the 1099R as received and adjust it if needed but, only if it was rolled over or you have some type of better explanation.

[dbender333]

I’m 18, he has been receiving the funds since the death in 2015,  it was supposed to go towards some sort of savings account for me but he instead used it for other expenses, he only changed it to be deposited to my account once I moved out of his house. I don’t believe it was particularly an agreement I was more of a “we won’t be able to live in our house unless he uses the money” type of thing despite the fact that like I said, my mom wanted it to be set aside for me/my savings. Hopefully this gives a little more insight 

[dbender333]

I’m 18, he has been receiving the funds since the death in 2015,  it was supposed to go towards some sort of savings account for me but he instead used it for other expenses, he only changed it to be deposited to my account once I moved out of his house. I don’t believe it was particularly an agreement I was more of a “we won’t be able to live in our house unless he uses the money” type of thing despite the fact that like I said, my mom wanted it to be set aside for me/my savings. Hopefully this gives a little more insight @maglib