Question

turbotaxonline is not treating a NY inherited 401k correctly. There are 3 beneficiaries so $6666,67 shouldn't be taxed. How do I correct this?

Forum|Forum|1 year ago
March 23, 2025
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@mike_debra It must be an entry error. Can you clarify and provide more details on how you are entering?

Married Filing jointly. I also have a 1099r for @$20,000 which was not taxed by NY. My wife's 1099R was imported and I verified all fields. Followup questions

1) Not eligible for exclusion for those over age 59 1/2 (turning off had no effect)

2) I inherited this IRA

3) Someone who passed away

4) No non deductible

5) decedent born before 1951

6) R.M.D. amount

7) Entire

And that's the last of the questions

M

mike_debraAuthor

So, I deleted both 1099-R and reentered. Now neither is showing up in New York Subtractions. It shows as $10,000 (from NY 529) where it was $30,000. But it should be $36,667. This is what Free Tax U.S.A shows.