Discussion:1099 for inherited IRS

From TaxAlmanac, A Free Online Resource for Tax Professionals
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.

From TaxAlmanac

Jump to: navigation, search

Discussion Forum Index --> Basic Tax Questions --> 1099 for inherited IRS
Discussion Forum Index --> Tax Questions --> 1099 for inherited IRS

Nshnider (talk|edits) said:

4 February 2009
Who gets the 1099 when a person dies. The estate of the benefactors. So who has to pay the taxes?

Neil

TTMM (talk|edits) said:

4 February 2009
Depends.....

TTMM (talk|edits) said:

4 February 2009
I'm assuming you meant IRA not IRS. Who was the check made payable to?

Death&Taxes (talk|edits) said:

4 February 2009
Were there beneficiaries named?

Kevinh5 (talk|edits) said:

4 February 2009
yes, Moe, Larry and Curly

Nshnider (talk|edits) said:

5 February 2009
Yes sorry IRA or 401K. If a beneficiary is named I assume the $ goes to the beneficiary and they get the 1099 and pay the taxes. If no beneficary named I assume it goes into the estate and they get a 1099 and pay the taxes? Is this correct?

Neil

Taxtips (talk|edits) said:

5 February 2009
The 1099 is issued to the distributee. It is possible that there were no distributions in the year of death.

To join in on this discussion, you must first log in.
Retrieved from "http://www.taxalmanac.org/index.php/Discussion:1099_for_inherited_IRS"