Hi all,
I wanted to double check regarding two payments made to me last year. My mother passed away last year, and at the time, she was receiving a monthly social security check and state pension payment. Social Security recalled her last payment and I had to go them and have them reissue it, however they paid it to me as a beneficiary. Also, her final state pension payment was prorated and paid to me as a beneficiary as well. As a result, I received a 1099-R from both Social Security and the state pension plan in my name and SSN for those amounts. Do I list these as retirement income on my taxes, even tho they technically were due to my mother? I don't like the extra increase to my income from this, and worried about any weird penalties, etc.?
Anyone have to deal with this before?
Thank you in advance!
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Yes, you list those amounts on your tax return. These were monies received by you, as beneficiary, after the death of your mother. Because the money belongs to you, it must be reported on your tax return. It is because any money received after death belongs to the beneficiary and not the decedent.
Many people have had to deal with this and the tax law is quite clear. Only money received by the deceased before death goes on their final return. The information below is for understanding if you feel like you want to review.
I send my sympathies to you and your family.
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