What is the name of your state? NJ
I am the executor of my mother's estate and have about $30,000 worth of Savings Bonds (E & EE) to cash in. I'm trying to make sure I understand where the interest gets reported. The interest going from date of issue is about $20,000. I know the total would be included in her taxable estate, but would the interest be reported on the estate income tax or on her final (2005) income tax that I file next year? I believe it would go on her final income tax, but just wanted to be sure.
Thanks.
I am the executor of my mother's estate and have about $30,000 worth of Savings Bonds (E & EE) to cash in. I'm trying to make sure I understand where the interest gets reported. The interest going from date of issue is about $20,000. I know the total would be included in her taxable estate, but would the interest be reported on the estate income tax or on her final (2005) income tax that I file next year? I believe it would go on her final income tax, but just wanted to be sure.
Thanks.