Tax Reporting: Form 1099 for an Amount Received from a Deceased or Divorced Person's Account

If assets are transferred from an IRA or other qualified plan due to divorce, or you receive inherited IRA distributions due to a death, the IRS requires that you report these amounts.

In compliance with Treasury Department Circular 230, unless stated to the contrary, any information contained in this FAQ was not intended or written to be used and cannot be used for the purpose of avoiding tax penalties that may be imposed on any taxpayer.