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Showing content with the highest reputation on 06/30/2023 in Posts
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The IRS has created a one page poster to be passed on to clients: https://www.irs.gov/pub/irs-pdf/p5797.pdf4 points
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Because he died in 2021 and this was a 2022 distribution reported under his SSN on the 2022 1099R.1 point
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You could just report this on the surviving spouse's return and respond to any notices with a copy of the 1099R. Or, if the withholding is close to the tax due, simply ignore it.1 point
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Other than Box 3 being called "Other Income", the instructions for filing a 1099 Misc don't really address this question? Situation Normal - Confused!1 point
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I too remember Block's POM paying clients with the philosophy taught to us to explain to clients that when HRB pays an obligation of a client that HRB issues Form 1099-MISC. I wasn't involved in the 1099 issuance, so don't remember if the 1099 included ALL payments by HRB to include tax, interest, and penalty.1 point
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I guess the first question I should have asked was: did the IRA's have the spouse as a named beneficiary on them? It does look like the custodian screwed up regardless, if they knew the owner was deceased. Normally they would have requested the estate EIN if no one was named as a beneficiary.1 point
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Well, if getting corrected 1099's is a dead-end...an estate can be issued a refund. That refund can then be passed on to beneficiary.1 point
