Answered: inherited retirement account

milkman · ‎03-09-2023

My elderly client was recipient of her deceased brother's retirement account (1099R). The 1099R has her brother's TIN , but is made out to his estate and her. Her only other income is social security. The amount is substantial and would subject some of her social security to taxation.

My issue is the 1099R has her brothers SSN. She doesn't have a problem paying the extra tax.

How should this be handled??

sjrcpa · ‎03-09-2023

If she got the money she should report it on her 1040.

If there was tax withholding IRS correspondence may ensue because the 1099-R has deceased's SSN.

The more I know, the more I don't know.

View solution in original post

sjrcpa · ‎03-09-2023

If she got the money she should report it on her 1040.

If there was tax withholding IRS correspondence may ensue because the 1099-R has deceased's SSN.

The more I know, the more I don't know.

inherited retirement account

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