IRA beneficiary My mom passed 8/17/17, she was 76. I am her daughter and was listed as a beneficiary on her IRA. After the transfer into my name, I chose to cash out the entire thing. I had full estimated taxes taken out before I received a check. I received a form 1099-R with federal and state taxes listed that I paid and distribution code 4 for death. Also received a form 5498 FMV under $3. Question is, is this a simple fill in the box thing on Turbo Tax or is this something an CPA or tax office should prepare for me? Also people tell me I will get the taxes paid back when I file, but since it was an IRA and I am not the spouse I believe taxes were due and I will not get back, unless we overestimated and I paid more than due.
Thanks in advance for the help on this.
Jody |