How do I handle a traditional IRA distribution with code 4 on the 1099R. The taxpayer immediately rolled it over into another retirement account.

Forum|Forum|6 years ago
February 25, 2020
4 replies
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Best answer by Terry53029

When you are filling out the 1099 worksheet, keep scrolling down for more info on rollovers.

you should do some research in pub 590 unless you are fully experienced in IRA's code 4 is death and depending on type of IRA they get different handling

Here is link: https://www.irs.gov/pub/irs-pdf/p590b.pdf

IRonMaN

Level 15

Scroll down to section B of the 1099R worksheet.

If anybody asks, I wasn't here 😁

Slava Ukraini!

qbteachmt

Level 15

Doesn't 4 = death? That makes it hard for the taxpayer to roll it over anywhere.

Otherwise, don't we need to know the account type and if the beneficiary is the spouse or not?

Details always help.

Don't yell at us; we're volunteers

T

Terry53029

Answer

Intuit Community Champion

When you are filling out the 1099 worksheet, keep scrolling down for more info on rollovers.

you should do some research in pub 590 unless you are fully experienced in IRA's code 4 is death and depending on type of IRA they get different handling

Here is link: https://www.irs.gov/pub/irs-pdf/p590b.pdf

BobKamman

Level 15

Unless it was a trustee-to-trustee transfer, you may have some disappointing news for your client. There is no "60-day rule" for inherited IRA's.

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