Irs form with 1099r question (income, income tax, live)

[Ilovelucky123]

My aunt passed on 8/6/2022 , her beneficiary on her schwab IRA account was my mom who passed on 8/8/2022. My sister is the executor of my moms estate. Everything from the schwab account was divided between my sister and I. 15% tax was taken out for both federal and state. We each got a check for the same amount. My sister received a 1099a form for the estate of my mom regarding the schwab ira account. On the 1099r schwab put in the wrong ss# for recipients tin. Just wondering what form to fill out to show the error. I read online that we need a new 1099r form. Question is should my sisters ss# be listed for recipients tin since she is the executor. Do we need to fill out a 5498 form?

Thank you
MS

[Wells5]

Inheritances are not subject to federal income tax. They are subject to federal estate tax and PA inheritance tax.



PA has one of the most egregious inheritance tax rates, 15%, which applies to non family members. Contrast that with our neighbor to the north whose estate tax does not kick in unless the estate is valued at more than $10 million.

[Ilovelucky123]

I
Schwab is sending out a new 1099r with the correct ein number. My aunt lived in TN. No inheritance due. It does seem we put out too much for state and federal.