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I am filing form 1041 using TurboTax Business. The Estate received a 1099-R which is reported under the Estate EIN number. Where on the form 1041 do I enter the amount shown in gross distribution amount sown on the 1099-R in box 1. All boxes are Zero. Distribution code is 4G. Thanks!
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In TurboTax Business, Form 1099-R for an estate is entered under Other Income from the Income tab. The description would be "Form 1099-R Code 4G."
Thanks. Follow on question-where do I show the income received on the 1099R being rolled in to an Inherited IRA? Distribution to beneficiary which is the deceased?
Thank you!
The distribution to the deceased should be entered on a final tax return that covers the portion of the year that they were alive. The rollover 1099-R should either be entered on that same tax return or on the estate tax return depending on who it is issued to.
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