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6:23
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The Finance Observer
36 The 1099 R Death Code Audit
If you inherited an IRA and are under age 59½, check Box 7 of your 1099-R immediately. If you see "Code 1," the bank's computer has falsely flagged you for an Early Withdrawal Penalty. You need "Code 4" (Death Benefit) to protect your money. As The Finance Observer, I’ve performed a forensic review of the IRS "Distribution Codes." In this ...
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