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    patposs's Avatar
    patposs Posts: 1, Reputation: 1
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    #1

    Mar 13, 2007, 10:58 AM
    Inherited annuity tax
    My sister and I inherited some money from my dad's annuity. The firm took out taxes before paying us. How do I report this income. The total amount or the amount less taxes already paid? Where on form 1040 do I put the taxes already paid?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #2

    Mar 16, 2007, 11:54 AM
    Report the entire amount of the distribution.

    Add the withheld taxes to the withholding listed on Line #64 of Form 1040.

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