Annuity 1099 R
We received two 1099 R from same company showing different amounts . One was a RMD and one was total distrabution. One was a code 4 and other 7. They were both made out in the deseased name and there SS number. Can I add these to the deseased 1040 or do I have to use a 1041
Permalink Submitted by Alan - IRA critic on Sat, 2024-02-24 19:15
The code 4 amount is a death distribution which should have been issued to a beneficiary, not the decedent. The code 7 should reflect a distribution made to the decedent while still alive. Decedent’s final 1040 should only include distributions made while still living.
Permalink Submitted by PaulC on Mon, 2024-02-26 15:03
Is it possible the two forms 1099-R are for two different accounts held by the deceased with the same company? One could be an account originally owned by the deceased; that would be the 1099-R with a code 7, and the other could be an account for which the deceased was a beneficiary; that would be the 1099-R with the code 4. In that case, both of the income amounts would belong on the decedent’s final 1040.
Permalink Submitted by Alan - IRA critic on Mon, 2024-02-26 16:25
Yes, very possible. Poster should into this.