414576
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Why is there a taxable amount on my 1099-R if I have an inherited retirement account from my late husband? I get money monthly, but it's not an RMD, I'm the beneficiary?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
Hal_Al
Level 15

Why is there a taxable amount on my 1099-R if I have an inherited retirement account from my late husband? I get money monthly, but it's not an RMD, I'm the beneficiary?

An inherited pension, even when the decedent was your spouse, is still a tax deferred account. When a distribution is taken form the account, whether monthly or lump sum, it is all** taxable, whether an RMD or not. 

** If the account had some cost basis (uncommon), a portion  will not be taxable.

View solution in original post

1 Reply
Hal_Al
Level 15

Why is there a taxable amount on my 1099-R if I have an inherited retirement account from my late husband? I get money monthly, but it's not an RMD, I'm the beneficiary?

An inherited pension, even when the decedent was your spouse, is still a tax deferred account. When a distribution is taken form the account, whether monthly or lump sum, it is all** taxable, whether an RMD or not. 

** If the account had some cost basis (uncommon), a portion  will not be taxable.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question