Income spreading

Forum|Forum|1 year ago
February 2, 2025
2 replies
18 views

I have a client who's husband passed away in 2021 from Covid. After three years his estate settled in 2024 and my client got a large distribution from her deceased husband's retirement account. That distribution was reported on a 1099'r. Is there a way to spread the income over multiple tax years to reduce tax liability for this year?

ProSeries Basic

This topic has been closed for replies.

Best answer by dd4vols

Was her 1099-R just for her percentage, and hopefully not for the whole account distribution??

BobKamman

Level 15

Not if it wasn't rolled over to an inherited IRA. Why the delay? Beneficiary was still the first wife?

ljr

Level 9

if she was the beneficiary, it should have been immediate and why the h--- didn't she call you before she took it and get advice about rolling it over instead of taking it.. . . . oh we all know the answer to that.

dd4vols

Answer

Intuit Community Champion

Was her 1099-R just for her percentage, and hopefully not for the whole account distribution??

If an answer solves your issue, click on the "Mark as Best Answer" button! Makes it easier for people to find answers to similar questions that have already been posted.

Sign up

Login with SSO

Let's get you signed in

Login with SSO