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Is an early withdrawal of an IRA taxable if the IRA was the…

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Is an early withdrawal...

Is an early withdrawal of an IRA taxable if the IRA was the husband's and he died and the wife withdrew the IRA after his death?

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My daughter's husband died 12/20/16 and he had an IRA My daughter withdrew (cashed) the IRA (in 2017) after his death. both were under 59 1/2 at the time.

Submitted: 3 months ago.Category: Tax
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3/25/2018
Tax Professional: Robin D., Senior Tax Advisor 4 replied 3 months ago
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 18,183
Experience: 15years with H & R Block. Divisional leader, Instructor
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Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

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Tax Professional: Robin D., Senior Tax Advisor 4 replied 3 months ago

Yes the IRA distribution is taxable. They may have shown a code 4 on the 1099R which would mean no 10% penalty for being under 59 1/2 but it is taxable. The same it would have been taxable to the deceased the IRA is taxable to the beneficiary (even if the benficiary is the spouse).

Please let me know if you need more information.
If not then please scroll up to see the STARS to rate so I am credited.

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Tax Professional: Robin D., Senior Tax Advisor 4 replied 3 months ago

Did that clarify?

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Tax Professional: Robin D., Senior Tax Advisor 4 replied 2 months ago

Hi,

Your question is still open. I am checking back to see if you needed more information.

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