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Level 1
posted Mar 1, 2020 12:52:52 PM

Inherited 1099

I see where I enter the 1099-R forms I received due to a death. There was tax taken out of all of the accounts. When it asks if these are an RMD. Do I answer yes or no since it was due to a death? 

0 2 510
2 Replies
Employee Tax Expert
Mar 1, 2020 1:27:17 PM

If the distribution was a lump sum, then it would not be a RMD. However, if you had the option to take distributions over a period of years and you are doing so, then the RMD rules would apply if they applied to the deceased because of their age. In that case, the distribution might be considered an RMD.

 

 

Level 15
Mar 2, 2020 6:18:12 AM

The distribution might or might not include an RMD.  However, TurboTax is only trying to determine how much of the distribution was eligible for rollover.  If none of the distribution was rolled over, it doesn't matter what answer you provide to this question.  You can simply say that all of the distribution was RMD.