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stoney

Part of the unwashed, middle-American horde
Jul 26, 2006
21,615
7,276
Colorado
1099-r says traditional
Then it's in the wrong kind of account. Whoever took that from the decedents account and put it into your name did it wrong. I can discuss it with you offline if you like. It's about how the account itself it setup.

https://ttlc.intuit.com/questions/3155079-do-i-have-to-have-a-1099-r-on-an-inherited-ira-that-was-transferred-from-my-fathers-brokerage-account-to-mine-no-distribution-taken-if-his-firm-did-not-issue-one

This is from Edward Jones (not where I work):
https://www.edwardjones.com/client-resources/tax-resources/tax-faqs/form-1099r.html
Why did I receive a 1099-R from a deceased person’s account?
As custodian, Edward Jones is required to report all distributions taken from an account due to death. As a beneficiary taking distributions from a decedent IRA, you will receive a 1099-R reporting the amount withdrawn (distribution code 4).

If you are a non-spouse beneficiary of a qualified retirement plan and elected to have your benefits roll over to an inherited IRA (after the original account owner’s death), you will receive a 1099-R reporting that amount under distribution code G4.
The rollover received in the IRA will be reported on your Form 5498, which is issued in May 2018.

https://www.journalofaccountancy.com/issues/2007/feb/earlydistributionsfrominheritediras.html
 
Last edited:

SkaredShtles

Michael Bolton
Sep 21, 2003
65,734
12,758
In a van.... down by the river
When my mother died I inherited the entire sum of her retirement. She had not yet retired. A massive $30k. Not exactly monocle money. My brother and I were actually budgeting to take care of her before she passed.
Sorry about your mom. :(

That would still buy a pretty nice monacle or two. :D

Oh - and FUCK work.

Me: Did you restart the IPMI?
Co-worker: Yes
<20 minutes go by>
Me: You did a "Reset" on the IPMI?
Co-worker: No... doing that now.

:think: :rant:
 

jstuhlman

bagpipe wanker
Dec 3, 2009
16,696
13,050
Cackalacka du Nord
going to cut out a tree that fell on our local trail...then rebuild me rear wheel with a buddy, who just happens to be the best builder in the area, so i can finally build up my new to me frame. copious amounts of stouts procured as well. fuck yeah.
 

Westy

the teste
Nov 22, 2002
54,442
20,247
Sleazattle
Then it's in the wrong kind of account. Whoever took that from the decedents account and put it into your name did it wrong. I can discuss it with you offline if you like. It's about how the account itself it setup.

https://ttlc.intuit.com/questions/3155079-do-i-have-to-have-a-1099-r-on-an-inherited-ira-that-was-transferred-from-my-fathers-brokerage-account-to-mine-no-distribution-taken-if-his-firm-did-not-issue-one

This is from Edward Jones (not where I work):
https://www.edwardjones.com/client-resources/tax-resources/tax-faqs/form-1099r.html
Why did I receive a 1099-R from a deceased person’s account?
As custodian, Edward Jones is required to report all distributions taken from an account due to death. As a beneficiary taking distributions from a decedent IRA, you will receive a 1099-R reporting the amount withdrawn (distribution code 4).

If you are a non-spouse beneficiary of a qualified retirement plan and elected to have your benefits roll over to an inherited IRA (after the original account owner’s death), you will receive a 1099-R reporting that amount under distribution code G4.
The rollover received in the IRA will be reported on your Form 5498, which is issued in May 2018.

https://www.journalofaccountancy.com/issues/2007/feb/earlydistributionsfrominheritediras.html

That all happened over ten years ago, getting the paperwork right wasn't exactly in my mind at the time. Will have to dig up some paper work to figure out what happened.
 

stevew

resident influencer
Sep 21, 2001
40,596
9,608
Then it's in the wrong kind of account. Whoever took that from the decedents account and put it into your name did it wrong. I can discuss it with you offline if you like. It's about how the account itself it setup.

https://ttlc.intuit.com/questions/3155079-do-i-have-to-have-a-1099-r-on-an-inherited-ira-that-was-transferred-from-my-fathers-brokerage-account-to-mine-no-distribution-taken-if-his-firm-did-not-issue-one

This is from Edward Jones (not where I work):
https://www.edwardjones.com/client-resources/tax-resources/tax-faqs/form-1099r.html
Why did I receive a 1099-R from a deceased person’s account?
As custodian, Edward Jones is required to report all distributions taken from an account due to death. As a beneficiary taking distributions from a decedent IRA, you will receive a 1099-R reporting the amount withdrawn (distribution code 4).

If you are a non-spouse beneficiary of a qualified retirement plan and elected to have your benefits roll over to an inherited IRA (after the original account owner’s death), you will receive a 1099-R reporting that amount under distribution code G4.
The rollover received in the IRA will be reported on your Form 5498, which is issued in May 2018.

https://www.journalofaccountancy.com/issues/2007/feb/earlydistributionsfrominheritediras.html
irs can go fuck itself...
 

rockofullr

confused
Jun 11, 2009
7,342
924
East Bay, Cali
You know what I love?

When someone is out of the office so you have to do their job and low and behold you don't get your job done cause you're doing someone else's shit. That's just the best!

:bonk:
 

StiHacka

Compensating for something
Jan 4, 2013
21,560
12,505
In hell. Welcome!
FTS is high today. I am expecting a major letdown today by some of the people I work for.
Aaand I wasn't disappointed. :mad: I have two options: either fight some major bullshit now before it reaches a point of no return, or give up and make everyone in my team suffer and reach a point of a total failure a little later. Common sense & the right thing to do vs. politics. I love my folks too much so I am making some major enemies. I must be doing something right because this BS has been escalated to one level below the CEO already (and we are a large organization).
 

jstuhlman

bagpipe wanker
Dec 3, 2009
16,696
13,050
Cackalacka du Nord
3A400488-00AA-4575-8041-1BF0C011BB9C.jpeg
here. you may all bow down. divide by zero. chug your stouts and ipas. i present to you the never-before-seen, the unicorn of wheels, the impeccably built boost 26er:
 

jdcamb

Tool Time!
Feb 17, 2002
19,839
8,440
Nowhere Man!
To become a recreational pilot.
To qualify I still need instrument training depending on the plane I have access too. Cessna 172 is all I am capable of flying. I would like to move up to a 320. More fun then you can imagine. Sky Porsche.
 

Toshi

Harbinger of Doom
Oct 23, 2001
38,319
7,744
Why do you have a basement computer? Are you hiding something?
Because the giant 4K TV lives in the basement. No visible speakers or TVs in the living room because we are civilized. I do most of my paper writing on this computer while perched on the couch.