How do I file returned "unclaimed property" for IR01 property from Colorado for my Federal or State tax return?

[ERing3]

Will I receive a tax form? 

[KrisD15]

To clarify,

What was the property? Cash from an IRA? If yes, whose IRA was it? Who paid it? 

[ERing3]

Late 2023, I claimed the property categorized as Cash from Traditional IRA belonging to my deceased mother.  The bank split the funds between 3 beneficiaries in 2016 when she would have been 66, and released in 2017. I never received any distributions nor did I receive any tax documentation.

[ERing3]

Late 2023, I claimed the property categorized as Cash from Traditional IRA belonging to my deceased mother.  The bank split the funds between 3 beneficiaries in 2016 when she would have been 66, and released in 2017. I never received any distributions nor did I receive any tax documentation.

[DianeW777 · Accepted solution]

It depends.  If you received a Form 1099-R you would report this as taxable IRA distributions.  If you did not receive that document when you claimed the property/cash in 2023, then you can report it one of two ways,

1. Other Income - Simple entry with same tax results
2. Retirement Income as though you did receive a 1099-R (not really necessary and may require you to file by mail)

Other Miscellaneous Income:

1. Go to the Wages and Income  section of TurboTax
2. Scroll to  Less Common Income > Select  Miscellaneous Income, 1099-A, 1099-C
3. Select Other reportable Income > Enter a description (----) and the amount

                               

Retirement Income:

1. Go to Wages and Income section of TurboTax
2. Scroll to Retirement and Social Security
3. Select IRA, 401(k), Pension Plan Withdrawals (1099-R)
4. Continue > Enter the payer information amount you received in box 1 and 2a, distribution code 4 in box 7
5. Continue to answer questions until you reach the screen 'Do any of these situations apply to you?'
6. Select I need to file a substitute 1099-R
7. Follow the prompts to complete your entry

@eringpis     

I am sending my sympathies to you and your family.