What is the name of your state (only U.S. law)?
A brokerage account was originally titled in a revocable living trust using the grantor's social security number. The grantor died in Sept. 2013 and the revocable living trust became a testamentary family trust. A final 1040 was filed for 2013 but the paperwork transferring the brokerage account into the family trust with a new tax id was done in Oct. 2014 by the trustee. The trustee was told by the brokerage that any interest, dividends or capital gains for 2014 up to October 2014 will be reported under the decedent's social security number, not the new tax id. I thought that a decedent's social security number is no longer valid. Is this correct and how can the interest and dividends be accounted for when filing the trust tax return for 2014 by April 15, 2015 when the 1099 will be issued under a different tax id?
A brokerage account was originally titled in a revocable living trust using the grantor's social security number. The grantor died in Sept. 2013 and the revocable living trust became a testamentary family trust. A final 1040 was filed for 2013 but the paperwork transferring the brokerage account into the family trust with a new tax id was done in Oct. 2014 by the trustee. The trustee was told by the brokerage that any interest, dividends or capital gains for 2014 up to October 2014 will be reported under the decedent's social security number, not the new tax id. I thought that a decedent's social security number is no longer valid. Is this correct and how can the interest and dividends be accounted for when filing the trust tax return for 2014 by April 15, 2015 when the 1099 will be issued under a different tax id?