Ask Experts Questions for FREE Help!
 

Free Answers in 3 Easy Steps

Register Now
3 Steps
 


Ask QuestionsprogressAnswer QuestionsprogressBuild ReputationprogressBecome an Expert
 
At Ask Me Help Desk you can ask questions in any topic and have them answered for free by our experts. To ask questions or participate in answering them you must register for a free account. By registering you will be able to:
  • Get free answers from experts in any of our 300+ topics.
  • Accept money for answers that you provide.
  • Communicate privately with other members (PM).
  • See fewer ads.
  Answer this Question    Ask about Taxes    Ask about another Subject  
 

Dave Maunder
Jan 29, 2009, 03:20 PM
I, along with my siblings, received a $1836 "redemption due to death" from a John Hancock 403(B) account, that my father held until his passing in April of 2008. Is all or any of this distribution taxable on either my federal or state (Calif) returns?

AtlantaTaxExpert
Jan 30, 2009, 09:27 AM
Probably, because most 401(b) accounts are tax-deferred, NOT tax-exempt, which means the tax MUST be paid upon redemption.

Expect to get a Form 1099-R from John Hancock.