-
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
Similar Threads
-
By zeros in forum Main Forum / Tax Discussion
Replies: 1
Last Post: 03-14-2009, 03:45 PM
-
By taxmom34 in forum Main Forum / Tax Discussion
Replies: 2
Last Post: 03-08-2009, 04:15 AM
-
By zeros in forum Main Forum / Tax Discussion
Replies: 1
Last Post: 03-19-2008, 06:04 PM
-
By S T in forum Main Forum / Tax Discussion
Replies: 6
Last Post: 03-02-2007, 12:23 AM
-
By geekgirldany in forum Main Forum / Tax Discussion
Replies: 2
Last Post: 04-01-2006, 06:02 PM
Posting Permissions
- You may not post new threads
- You may not post replies
- You may not post attachments
- You may not edit your posts
-
Forum Rules
Disclaimer: This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.
HOME
ORDER
ABOUT US
CONTACT
Reply With Quote