Who reports taxes on a deceased person’s 401(k) payout? | NC

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Q: Who is responsible for reporting taxes on a deceased person’s 401(k) distribution? A: In most cases, the person or entity that actually receives the four oh one k payout is the one that reports it as taxable income. A simple way to confirm this is to look at the Form ten ninety nine R—reporting usually follows the payee listed on that form. If the plan paid a named individual beneficiary…