I received benefits pension this year from my father passing away. How do I claim that on an e-file for taxes?

Answer 1

If you inherit a traditional IRA from anyone other than your deceased spouse, you cannot treat the inherited IRA as your own. This means that you cannot make any contributions to the IRA. It also means you cannot roll over any amounts into or out of the inherited IRA. However, you can make a trustee-to-trustee transfer as long as the IRA into which amounts are being moved is set up and maintained in the name of the deceased IRA owner for the benefit of you as beneficiary.http://www.irs.gov/publications/p590/ch01.html#d0e3082

From Publication 575


Distributions the beneficiary of a deceased employee gets may be accrued salary payments; distributions from employee profit-sharing, pension, annuity, or stock bonus plans; or other items. Some of these should be treated separately for tax purposes. The treatment of these distributions depends on what they represent.

Salary or wages paid after the death of the employee are usually the beneficiary's ordinary income. If you are a beneficiary of an employee who was covered by any of the retirement plans mentioned, you can exclude from income nonperiodic distributions received that totally relieve the payer from the obligation to pay an annuity. The amount that you can exclude is equal to the deceased employee's investment in the contract (cost).

http://www.irs.gov/publications/p575/ar02.html#d0e4790
Publication 575

Answer 2

You should have received an income document from your father's pension plan. It is likely a 1099R, and will show the distribution and taxable amount.

Enter the data from the 1099R exactly as it appears into the software program. There is no restriction about e-filing, you should be able to do it.

Whatever would have been taxable to your father is taxable to you, and will be indicated on the income document.

Answer 3

Your assertion of the data does not sound maximum suitable. Secondary (contingent) beneficiaries in simple terms come into play if a widely used beneficiary predeceases the insured social gathering. i think that some thing else is going at right here.

Answer 4

Double check, but I think the payments were considered INSURANCE, it is not taxable income. If you did not receive a 1099, That is why.

Answer 5

Sorry, you just graduated out of e-file to a more complicated format.