how to handle deseased 1099 R Code 4 Code 7
Deceased was 96 She received 2 1099 Rs from Wilton Annuity. One code 4 and one code 7. Can both be put on final 1040 or should one be on a 1041
Deceased was 96 She received 2 1099 Rs from Wilton Annuity. One code 4 and one code 7. Can both be put on final 1040 or should one be on a 1041
Permalink Submitted by Alan - IRA critic on Sat, 2024-03-02 17:39
The code 4 probably reflects distributions she received from an inherited annuity while still living and therefore both would be on her final 1040. Any distribution made after her death should be reported and then backed out of her final return using the nominee process, and such amount should be transferred to her beneficiary and reported as income by her beneficiary.