My father passed away last year and his 401k was disbursed to the estate as my mother passed away 8 months prior to his passing. Please advise. - AgingCare.com

My father passed away last year and his 401k was disbursed to the estate as my mother passed away 8 months prior to his passing. Please advise.

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Us kids were not secondary beneficiaries. The estate did not pay taxes on the 401k, we are. Each of us are responsible to pay a third of the 401k disbursement. Medicaid recovered approximately $100,000.00 from the estate. Are we each able to claim a third of that medicaid payment as a tax deduction on our income taxes?

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This is a good question. But I think it's a question for your tax person or a CPA.
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