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dbender333
Returning Member

1099-R Question

I have inherited retirement money from a deceased parent and was not personally receiving the income until August 2024 (father was keeping it prior to this and I was finally paid it in August as I moved out of his home). The 1099-r says the total amount that was paid that year was around 10,000, but I was only paid about 2,000 of it. When I enter the highest number into turbo tax it then says I owe about $300 to state government, but when I enter the amount I myself was actually paid I don't owe taxes. I am just wondering if me entering the amount I was paid rather than the amount that my father took would be cause for auditing or even illegal? First time tax filer here, I've never made enough to bother with it.

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1 Reply

1099-R Question

Does the 1099R have your ssn on it?  Sorry you have to pay tax on the amount in box 1 or 2a.  If you  didn't get the full amount from your father that's between you and him.  You may need to contact a lawyer.  

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