Calculating year end estimated taxes for a client/TP. TP received NQ annuity payment as beneficiary. The statement attached to the check has:
$3000 principal
$2000 interest.
Correct me if I am wrong but $5k would go line 1(gross dist) of the 1099-R worksheet and $2K would go on line 2a (taxable amount). Total dist box checked and code 4 death.
$3000 principal
$2000 interest.
Correct me if I am wrong but $5k would go line 1(gross dist) of the 1099-R worksheet and $2K would go on line 2a (taxable amount). Total dist box checked and code 4 death.
Comment