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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15747
Experience:  15years with H & R Block. Divisional leader, Instructor
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My aunt passed in January of 2015 can I do a distribution of

Customer Question

My aunt passed in January of 2015 can I do a distribution of IRA for the amount and report it as income on her 2015 Taxes.
Submitted: 2 years ago.
Category: Tax
Expert:  Robin D. replied 2 years ago.
HelloAfter the death of its owner, an Individual Retirement Account (“IRA”) will be distributed in accordance with the most recent beneficiary designation on file with the IRA custodian. If there is no beneficiary designation on file, or if the named beneficiary does not survive the account owner, then the balance of the account will be paid to the IRA owner’s probate estate.The distribution would not be shown on your aunt's final return but on her estate return if there is no named beneficiary. Is there a named beneficiary?
Expert:  Robin D. replied 2 years ago.
Please advise if you need more information