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Old 03-27-2008, 09:35 PM
D. Stussy
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Default Re: 1099 in deceased mothers name

"SMF" <smfwdf[at]comcast.net> wrote in message
news:01f2bff7-1729-4093-84bb-eaafbc678684[at]x41g2000hsb.googlegroups.com...
- quote -

> 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?


Short answer: Yes.

Longer answer:
1) Nominee 1099-B's should have been prepared and filed (due to IRS in
February), OR
2) The broker should issue corrected 1099-B's.

Did you ever tell the broker that she died?

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
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Old 03-26-2008, 10:12 PM
SMF
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Posts: n/a
Default 1099 in deceased mothers name

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?

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
 

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1099, deceased, mothers
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