I have a 1099-R as a beneficiary from the death of a family member. I seam to be taxed as if it was my IRA distribution. What should the tax be for me in this case.

null273 — Thu, 06 Jun 2019 09:33:29 GMT

When you inherit someone's IRA somebody has to pay the ta...

fanfare — Thu, 06 Jun 2019 09:33:30 GMT

When you inherit someone's IRA somebody has to pay the tax and that means you.
it is treated like your IRA distribution and it is ordinary income.
But there is no early withdrawal penalty for being under 59 1/2 years old

The executor should inform you if there is a basis in the IRA; this can lessen the amount of tax due. This assumes the owner kept good tax records.

topic I have a 1099-R as a beneficiary from the death of a family member. I seam to be taxed as if it was my IRA distribution. What should the tax be for me in this case. in Retirement tax questions

I have a 1099-R as a beneficiary from the death of a family member. I seam to be taxed as if it was my IRA distribution. What should the tax be for me in this case.

When you inherit someone's IRA somebody has to pay the ta...