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1099R Code 4 taxable?
My client has a $62,000 distribution she received when a relative died.
Boxes 1 and 2 have the total in there. 2b both boxes are marked, taxable amt not determined and total distribution.
Box 7 is code 4; death and the IRA/SEP/SIMPLE box is marked.
My client put the money in mutual funds.
There is no withholding.
I am looking in TTB for a way that this might not be taxable, but to be treated as a rollover, but I can't find justification for it..
Is this indeed taxable? If so, they are in big trouble because there is no withholding.
"I am proud to pay taxes in the United States. The only thing is I could be just as proud for half the money." Arthur Godfrey
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