Hello,
I need to file a final 1040 and 1041 with a 1099-B that is under the Trust's EIN and includes all the income before & after DOD.
My plan was to prepare a spreadsheet to breakout income attributable to the decedent and trust. From that enter Trust's net amount on the 1041 with statement and supporting attachments. Same for dependent's 1040 - report the net amount since the 1099-B was issued to the Trust's EIN.
Is this the right approach? Not sure on the 1040 if I should report gross and use the nominee distribution feature to adjust (i.e. does this only fit when the 1099-B is in the decedent's SSN).
Any other feedback welcomed. Thanks in advance.
To provide more info, the brokerage account was under a revocable grantor trust under decedent's SSN, then trustee and broker updated the account with an EIN after death.
Anything improper with my preceding with splitting income as described in my first post?
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