Discussion:Tax Withheld on IRA where estate is beneficiary
From TaxAlmanac, A Free Online Resource for Tax Professionals
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.
From TaxAlmanac
(Difference between revisions)
Revision as of 20:01, 6 July 2009
Discussion Forum Index --> Basic Tax Questions --> Tax Withheld on IRA where estate is beneficiary
Discussion Forum Index --> Tax Questions --> Tax Withheld on IRA where estate is beneficiary
| 6 July 2009 | |
| Client is an estate. Deceased named his estate as the beneficiary of his IRA (ugh). The executor had 10% withheld from the lumpsum distribution to the estate (their lawyer did not tell them about the options of distributing directly to the beneficiaries of the estate). I am trying to determing if the tax withheld can be allocated proportionally to the beneficiaries. I don't see any provision for that on the K-1, or in Lacerte. I am wondering if this is even possible. I was hoping to be able to have it allocated to if we can do this. Has anyone dealt with this before, and if so, how did you handle this? | |
