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hrazbus
Returning Member

Inherited retirement money as direct rollover shows as taxable income

My mother passed away in 2023. She was, and I am, Arizona residents.

She had a 403(b) account through her former employer in NJ . I inherited a portion of this account. My 1099-R correctly shows it as a direct rollover (G4) (it was rolled into an Inherited IRA). However, it is being added to my taxable income. Why? I thought as a direct rollover it would not be taxable?

 

Also, she took an RMD from this account in 2023. TT just asks if part of my distribution was an RMD; it doesn't ask whether the 2023 RMD was taken by the original owner. How do I answer this?

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1 Reply
hrazbus
Returning Member

Inherited retirement money as direct rollover shows as taxable income

PLEASE DISREGARD THIS POST

I went back and looked at everything in forms view and did the math - this amount is included in total income but not in taxable income. Sorry for the inconvenience.

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