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- 1099 NEC Issued to estate 1041
1099 NEC Issued to estate 1041
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michele
Level 7
04-05-2024
08:35 PM
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This is the first I have seen an estate issued a 1099 nec for a sizeable amount. Yes there is a 1099 nec on the personal return. Then this portion to the estate. I have not had this before am I right that the estate is not accessed self employment tax. I am reporting it on a schedule C on the 1041
thx
Michele
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2 Comments 2
BobKamman
Level 15
04-05-2024
09:51 PM
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Sounds like income in respect of decedent. Earned before death, but paid after, right? And I wouldn't show it on Schedule C. That implies that the business is being continued by the executor.
sjrcpa
Level 15
04-05-2024
10:13 PM
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"That implies that the business is being continued by the executor."
@BobKamman This is possible.
The more I know, the more I don't know.
