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  #1  
Old 03-07-2003, 09:24 AM
dougcs
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Joint Account: How is income split?


What is the name of your state? Florida

My father passed away last year while a resident of Florida and I as his personal rep. am responsible for his final taxes. At the time of his death, he had a joint account with my uncle, who lived with him and was his caretaker during his final illness. The funds in this account passed to the uncle upon my father's death.

I received the 1099INT form for this account. My question is how should the taxable income be split? The income is a little over $500. My father's SSN appears on the form and he is listed first.

Thank you,
Doug S
  #2  
Old 03-10-2003, 01:40 PM
dougcs
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This a followup question to the above.

As I am now doing my father's final 1040, I discovered that some of the 1009 INTs and DIVs he received for 2002 did not seperate income he earned while still alive and income that was received after his death.

My question is: Do I need to contact the payers and have them reissue 1099s that split the income between while he was alive and income earned by his estate or may I "nominate" the estate and issue 1099s to the it?

Thanks,
DougS
  #3  
Old 03-11-2003, 02:50 PM
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Join Date: Aug 2002
Location: Washington
Posts: 3,484
You need to talk to an estate tax preparer. However, you can probably nominee 1/2 the bank interest to your uncle.
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