Skip to main content
Level 5
December 7, 2019
Solved

How do I report interest income from an account of a deceased person?

  • December 7, 2019
  • 1 reply
  • 18 views

Client received form 1099-INT. The account is in clients name and deceased aunts name. Aunt passed away on 09-21-17. However 1099 still shows recipients id as aunts social security number. Can client report on their taxes since their name is on the account or does it need to be done on the estate return? 

This topic has been closed for replies.
Best answer by sjrcpa

If your client was the joint owner and it became your client's upon aunt's death - Yes.

Client should get bank tio change it to his name and SSN.

1 reply

sjrcpa
sjrcpaAnswer
Level 15
December 7, 2019

If your client was the joint owner and it became your client's upon aunt's death - Yes.

Client should get bank tio change it to his name and SSN.

The more I know the more I don’t know.
CRM2182Author
Level 5
December 7, 2019
Okay. Thank you!