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- deceased income received on their TID not estate
deceased income received on their TID not estate
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Budmeister
Level 3
a month ago
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I have customers who passed away in 2024 and early 2025. Executors have not changed their financial records too reflect the income into estate TID- What is best way to handle on 1041? Nominee interest for all?
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sjrcpa
Level 15
a month ago
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Nominee from dead people to estate?
Don't bother.
IRS knows they are dead and will not be expecting a 1040. There will not be a matching notice.
Just report the estate's income on the estate 1041 whether it is reported to SSN or EIN.
The more I know the more I don’t know.
Skylane
Level 12
a month ago
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@sjrcpa said “IRS knows they are dead and will not be expecting a 1040. There will not be a matching notice.”
the estate TIN is tied to the decedents SSN….agree 100%
If at first you don’t succeed…..find a workaround
