topic My mother passed away last year. I received funds from New York Life Insurance and Annuity on 1099R Is this considered an inherit an IRA? in Retirement tax questions

My mother passed away last year. I received funds from New York Life Insurance and Annuity on 1099R Is this considered an inherit an IRA?

AJdietze — Wed, 11 Feb 2026 04:48:47 GMT

Question: Did XXXX inherit the IRA from XXXXX & XXXXXX

Received distribution of monies.

Re: My mother passed away last year. I received funds from New York Life Insurance and Annuity on...

DaveF1006 — Thu, 01 Feb 2024 20:16:12 GMT

It depends. This sounds more like a life insurance settlement, which is not an IRA but are you certain this is an IRA? On the 1099R, is the box checked that indicates this is a IRA/SEP/SIMPLE?

Re: My mother passed away last year. I received funds from New York Life Insurance and Annuity on...

AJdietze — Thu, 01 Feb 2024 20:24:11 GMT

Box 7 has a 4 and the IRA/SEP/Simple is checked

Re: My mother passed away last year. I received funds from New York Life Insurance and Annuity on...

DaveF1006 — Thu, 01 Feb 2024 20:45:30 GMT

Ok, so it is an inherited IRA then and you would report it as an inherited IRA.

Re: My mother passed away last year. I received funds from New York Life Insurance and Annuity on...

dmertz — Thu, 01 Feb 2024 20:52:33 GMT

[Deleted duplicate answer.]