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Level 1
Mar 13, 2020 6:59 PM UTC
Question

1099R

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

Alumni - Intuit
Mar 13, 2020 8:36 PM UTC

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

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