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My mother, who passed away a few years ago, received a

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Required Minimum Distribution for her...
My mother, who passed away a few years ago, received a Required Minimum Distribution for her 401K. I am her trustee. Besides me, there is one other beneficiary in a much lower tax bracket. How should I handle this from a tax standpoint? Do I send the other beneficiary a 1099?
Submitted: 4 months ago.Category: Tax
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Answered in 4 hours by:
3/29/2018
Tax Professional: ABC Accounting Group, Certified Public Accountant (CPA) replied 4 months ago
ABC Accounting Group
ABC Accounting Group, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 889
Experience: Business Consultant/Accounting Manager
Verified

Hi. Great Question. Quick Question - did the beneficiary receive the $'s from the 401k account.

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Customer reply replied 4 months ago
No, nothing received except the notice.
Tax Professional: ABC Accounting Group, Certified Public Accountant (CPA) replied 4 months ago

Hi. If no one received any $'s from the account, no 1099 is needed - it is only required when cash is paid out to the beneficiaries.

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