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First off, my condolences for your loss.
As far as your question....Probably not, sorry to say. If the 1099-R is issued entirely to you, then the IRS will consider the tax burden your burden. While it certainly makes sense to share with your siblings, that doesn't mean the IRS considers this income to be split for tax purposes.
Sharing your income with others doesn't mean you get to reflect that on your tax returns.
Did you receive advice suggesting that this approach had merit? If so, what provision of the tax code did the person reference? Any advice accepted regarding this should include clear references to the law and be provided by a qualified tax professional or attorney. There is no commonly accepted method to allocate out income to individuals who were not actual beneficiaries.
If you argued that you were not sole beneficiary at the time of probate, perhaps the account could have been split at that time. (though haven't personally heard of that happening if you are named sole bene on the account docs)
First off, my condolences for your loss.
As far as your question....Probably not, sorry to say. If the 1099-R is issued entirely to you, then the IRS will consider the tax burden your burden. While it certainly makes sense to share with your siblings, that doesn't mean the IRS considers this income to be split for tax purposes.
Sharing your income with others doesn't mean you get to reflect that on your tax returns.
Did you receive advice suggesting that this approach had merit? If so, what provision of the tax code did the person reference? Any advice accepted regarding this should include clear references to the law and be provided by a qualified tax professional or attorney. There is no commonly accepted method to allocate out income to individuals who were not actual beneficiaries.
If you argued that you were not sole beneficiary at the time of probate, perhaps the account could have been split at that time. (though haven't personally heard of that happening if you are named sole bene on the account docs)
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