3563336
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

juju2334
New Member

1099-r add it to taxe retrun or not?

I received a 1099-R from a annuity life insurance as the beneficiary from the passing of my father. The 1099 marked the code in box 7 as 4 (meaning death). Both box 1a and 2a show the full amount. With no taxes taken. I rolled over the full amount into an inherit IRA. Do I need to report this on my taxes?  Was the right code used? The investment company that I moved the money to says they do not provide a 1099-R. They only send out a 5048 in May.

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
Vanessa A
Expert Alumni

1099-r add it to taxe retrun or not?

Yes, add it to your tax return.  Then after you enter the 1099-R, you will be asked a series of questions, one of which will be what did you do with this money?

 

Here you will answer that you rolled it over.  Then continue through the questions and it will be reported but not included as taxable income. 

Yes, the was the correct code for the distributing company to use.  And you do not need a 1099-R for the one you put it into until you receive a distribution. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question