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Will have both income to the Estate and income to the deceased, 2nd year. How 2 file?

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Timothy F

Junior Member
My mother passed away in December of 2015 and I am the executor of the estate. Early in 2016 I went through the paper work to be appointed personal rep and did all of the notifications, paid all bills, consolidated her financial affairs and so on. I also filed a personal tax return for her for 2015 and no Estate return since virtually all of her income was personal income and I did not yet have and EIN nor had I been appointed as personal rep in 2015.

What I did not do that it looks like I should have done was get all of her financial accounts put in the name of the Estate as soon as I could. I thought I would get it done before the end of the year and then file taxes for the Estate for 2016. I did get all of her accounts in the name of the Estate prior to the end of 2016 (in Nov. and Dec) but was told by the financial institutions that any interest or dividends earned will be reported on 1099's in her name and with her social security number. I've looked around online and gather that generally you file one time in the deceased name and after that, in the name of the Estate until it is closed.

My question is, how do I file taxes with regard to her Estate for 2016? Do I just do taxes on the Estate and report all income and dividends there even though most of the income reported on 1099s (div, int and R) are in her name and ss#? Or do I need to file (or can I) another deceased tax form on her as well as file taxes on the Estate? I was planning to do just the Estate Taxes, mail it in and include all 1099s on her and the Estate.

Any input or advice would be greatly appreciated.

Thanks,

Tim
 


LdiJ

Senior Member
My mother passed away in December of 2015 and I am the executor of the estate. Early in 2016 I went through the paper work to be appointed personal rep and did all of the notifications, paid all bills, consolidated her financial affairs and so on. I also filed a personal tax return for her for 2015 and no Estate return since virtually all of her income was personal income and I did not yet have and EIN nor had I been appointed as personal rep in 2015.

What I did not do that it looks like I should have done was get all of her financial accounts put in the name of the Estate as soon as I could. I thought I would get it done before the end of the year and then file taxes for the Estate for 2016. I did get all of her accounts in the name of the Estate prior to the end of 2016 (in Nov. and Dec) but was told by the financial institutions that any interest or dividends earned will be reported on 1099's in her name and with her social security number. I've looked around online and gather that generally you file one time in the deceased name and after that, in the name of the Estate until it is closed.

My question is, how do I file taxes with regard to her Estate for 2016? Do I just do taxes on the Estate and report all income and dividends there even though most of the income reported on 1099s (div, int and R) are in her name and ss#? Or do I need to file (or can I) another deceased tax form on her as well as file taxes on the Estate? I was planning to do just the Estate Taxes, mail it in and include all 1099s on her and the Estate.

Any input or advice would be greatly appreciated.

Thanks,

Tim
Include it all on the estate tax return. It will not be possible to file another personal tax return for her.
 

FlyingRon

Senior Member
Anything remitted before she died goes on her final return. Anything remitted after she died, even if reported in her name, is part of the estate.

You don't send the 1099s in with the tax forms. You hold on to them in case the estate is audited.
 

Timothy F

Junior Member
Thanks very much. I was just going to include copies of the 1099s that are in her name (not the Estate) so they could see where the numbers came from. It sounds like that probably won't do any good and if they want to know where they came from they will be in touch.

I will just include all of the reported income in the Estate and file as if the 1099s are in the Estate name.

Again, thank you both for the input!

Have a great day.
 

LdiJ

Senior Member
Thanks very much. I was just going to include copies of the 1099s that are in her name (not the Estate) so they could see where the numbers came from. It sounds like that probably won't do any good and if they want to know where they came from they will be in touch.

I will just include all of the reported income in the Estate and file as if the 1099s are in the Estate name.

Again, thank you both for the input!

Have a great day.
My 30+ years experience as a tax professional tell me that nine times out of ten its better to wait until the IRS asks you for additional information, rather than sending it with the return, particularly if the return is filed electronically. I am not saying that you cannot attach informational statements with electronically filed returns, just that even if you do, odds are that you will be asked to provide that same information again later on down the road if the information tends to be relevant.
 

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