How do I file 1099-R, Estate Situation?
My mom passed away in 2006, and in 2007 her 401K and her Pension was paid to her estate account. On the 401K federal income taxes were not taken but on the pension federal taxes were taken. Both have issued 1099-R. I do not know what to do. Do I report this on my personal income tax? or do I need to file a 1041 for the estate? Or do I need to do nothing?
Public Comments
- my condolences on the death of your mother. I know that dealing with the puny financial details afterward is not a pleasant task. the estate has to file its own tax return on form 1041. the Executor [is this you?] is responsible for doing this.
- This is income for the estate 1041. If the estate made distributions to you in 2007 you will need a K-1 from the estate to do your 1040. The pension income would flow out to you this way.
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