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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.
~possi
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