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My spouse passed away in 2016. I inherited a 401k plan that I rolled over into my traditional IRA. Do I need to claim that on my taxes?
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posted
June 3, 2019
12:25 PM
last updated
June 03, 2019
12:25 PM
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My spouse passed away in 2016. I inherited a 401k plan that I rolled over into my traditional IRA. Do I need to claim that on my taxes?
Yes you should, even though it is not taxable. The plan administrator should have sent you a form 1099-R.
Enter it exactly as printed, including box 7. Go to:
Federal Taxes (top menu)
Click Income & Expenses (just below top menu)
Scroll down to Retirement Plans and Social Security and click Show More (if necessary)
June 3, 2019
12:26 PM
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My spouse passed away in 2016. I inherited a 401k plan that I rolled over into my traditional IRA. Do I need to claim that on my taxes?
Yes you should, even though it is not taxable. The plan administrator should have sent you a form 1099-R.
Enter it exactly as printed, including box 7. Go to:
Federal Taxes (top menu)
Click Income & Expenses (just below top menu)
Scroll down to Retirement Plans and Social Security and click Show More (if necessary)
June 3, 2019
12:26 PM
Anonymous
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My spouse passed away in 2016. I inherited a 401k plan that I rolled over into my traditional IRA. Do I need to claim that on my taxes?
So, it wont effect anything then because it is not taxable? It just needs to be enetered?
June 3, 2019
12:26 PM
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My spouse passed away in 2016. I inherited a 401k plan that I rolled over into my traditional IRA. Do I need to claim that on my taxes?
Correct. It will not affect anything. But it is a good idea to report it.
June 3, 2019
12:26 PM
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