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Level 1
March 13, 2020
Question

1099R

  • March 13, 2020
  • 1 reply
  • 1 view

I received a 1099R for a distribution of a death benefit. It was listed as a normal distribution and federal and state taxes were deducted. Since it was a death benefit as part of an estate settlement were taxes due?

1 reply

Level 15
March 13, 2020

Yes, a 1099-R distribution subsequent to the death of the owner (code 4 in box 7) is generally taxable.

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