Discussion:1099 in deceased mother's name
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Discussion Forum Index --> Basic Tax Questions --> 1099 in deceased mother's name
Discussion Forum Index --> Tax Questions --> 1099 in deceased mother's name
| 26 March 2008 | |
| received 1099-B in deceased mother's name and ss#. She passed away a couple years ago. This was an account in her name and two of her children's names. Does it matter her SS on the 1099? Can the kids just divide up the items on their respective returns? | |
| 26 March 2008 | |
| That's what i would do. You may get a letter next year wanting mother to file a return. At that point just send explanation that she is deceased and income was properly reported on heir's returns. You could try to get broker-dealer to amend 1099, but that will take a while. | |
| 27 March 2008 | |
| On the kids on sch d description i might writing something " as originally reported in ss # xxx-xx-xxxx".
Could just preempt mom's notice and file return wiping out liability showing it was reported in kids ss#. | |
| 27 March 2008 | |
| does anyone wonder about whose asset it was and whether stepped up basis means anything? | |
| 27 March 2008 | |
| probably not the OP, because he has no profile he must be a DIYer | |
| 27 March 2008 | |
| DIYers deserve to get the wrong result and overpay their taxes. | |
| 27 March 2008 | |
| Now, now DIY knows about the stepped up basis at the deceased DOD...So no overstatement of income at risk, Be kind... | |
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