I received something I've never gotten in all my years I've been doing taxes.   Client has a 1099-R with income in box 1 and 2; no Federal tax withheld; a Box 7 code of 4; the IRA/SEP/SIMPLE box is checked.

Received the income (split between three heirs) from the death of his mother.

Having never seen this before (12 years in business), I am thinking that this is taxable income due to the IRA box being checked.   I have found in research that payments from insurance proceeds is normally not taxable.   But with this coming from an IRA, that it is taxable.

Anyhelp would be appreciated.

Learn something new every year.

Michael Mincemoyer