Ask Experts Questions for FREE Help !
Ask
    karmany's Avatar
    karmany Posts: 1, Reputation: 1
    New Member
     
    #1

    Feb 16, 2010, 11:10 AM
    How do you file taxes on property left to you in an estate
    The estate does not have an EIN. The companies have sent out 1099s in the decedants social security number.
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
    Expert
     
    #2

    Feb 16, 2010, 12:48 PM

    Are you the executor of the estate? If so, then you need to file a final income tax return on behalf of the deceased to cover his income from Jan 1, 2009 up to the date of death - you use his regular SSN for that. You may also have to prepare a 1041 income tax form for income earned by the estate in the period from date of death through to the end of the estate's tax year. You must have an EIN to file this form.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Who pays back property taxes in inherited property [ 5 Answers ]

I inherited 51 acres in West Virginia from my father who has died in March of last year. It is being transferred to me on Friday. The 2008 property taxes have not been paid. The will is going through Probate Court in Georgia now. Should the estate of my father pay the back taxes as the will is...

State to file Estate Taxes [ 1 Answers ]

Which state do I need to file the Estate tax return in? The state the deceased lived and died in, or the state in which the executor lives? Just to be clear, I'm referring to the taxes paid on interest the Estate earned (~$1,200) and not the Federal Estate Tax. Thanks.

Property Taxes on Property sold for estate settlement. [ 1 Answers ]

We have sold property in Indiana that will be part of and estate settlement. The property sold for less than $100,000. The money from this property will be divided between the 6 children. What taxes will be owed for the sale of this property?

Real estate left in will [ 1 Answers ]

My wife's grandmother left her home to her and her mother at her passing. She passed away in 1989. Her mother has been living in the home, but owes my wife approx. $30,000 when the home is sold. What we have that shows this is a signed document by both parties. Paper was signed before a notory...

Estate taxes, appraisal, and property sale [ 1 Answers ]

A family member died in 3/05 and left us two houses in California in a trust. We'd like to get appraisals that are hopefully below $1.5 million to avoid the estate tax. What happens if we then sell the two houses and the sale prices are above the appraised values? Is estate tax recalculated? ...


View more questions Search