inherited IRA accounts

[lkavanaugh]

husband died 11/23.  He had 2 differant IRA accounts.  I inherited these accounts.  I did not remove any money, simple changed from his name to mine as owner.  Do not know how to classify.  Is this a "rollover" or something else?

[DaveF1006]

To clarify, did you receive 2 1099R forms for these IRA's?

[dmertz · Accepted solution]

What you describe is spousal assumption of ownership of these accounts and you should have not received any Forms 1099-R.  Spousal assumption of ownership is not reportable.

[lkavanaugh]

yes.  #1  got (2) 1099R  One in his name for 11 months  second in my name for Dec.  he died in Nov. 2023, I Inherited  ( did paperwork )early Dec.

On # 2  IRA, this was an annunity which  came to me as "benefiter" upon his death.  (So was #1 above)Did all paperwork to change name from him to me, nothing else changed.

[dmertz]

What you seem to be describing are Forms 1099-R for distributions paid monthly, 11 months to your husband and 1 month to you.  If that's the case, is seems that neither of these Forms 1099-R is reporting the transfer of the IRA annuity to you and are only reporting taxable distributions actually paid to either you or your husband.  I would imagine that the Form 1099-R indicating a payment to you would something like 9% of the amount paid to your husband.  If the Form 1099-R reports an amount representing the balance of the annuity rather than just a 1 month distribution, it would instead seem that the IRA annuity company performed a reportable distribution and rollover.