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Level 1
posted May 6, 2023 11:16:21 AM

Inherited Annuity portion

I received a 1099-R from my late fathers annuity. I received 25% of the payout along with my 3 siblings. When I enter the info in my taxes, it appears to be calculating taxes on the entire 100%. I switched the 25% to 100% and my numbers didn't change. Box 7 Checked 4-D.   I only received 25% of the annuity, what is it not updating this?

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1 Replies
Level 15
May 6, 2023 2:39:14 PM

if you inherited 25% then the 1099-R should only reflect the 25% so 100% would be taxable unless

this is a lump-sum distribution, you intend to use special averaging, and you shared this distribution with another recipient, you will need to know your percentage of the entire distribution. If this distribution is shared, enter your percentage of the distribution. You may leave this field blank if your percentage is 100%.