TKTax Posted May 27, 2013 Report Share Posted May 27, 2013 My client's father died in 2011. No estate tax form was filed. Estate was not large enough. Form 1099-R from his pension has been issued in the estate's EIN for 2012. It shows the income and Federal Tax withholding. He needs to distribute the pension to his siblings. Can he issue 1099-Rs from the estate? How can he get the federal withholding? Could sure use some help on this. Quote Link to comment Share on other sites More sharing options...
Guest Taxed Posted May 27, 2013 Report Share Posted May 27, 2013 I believe the 1099-R income goes on line 8 (other income) of form 1041. Then the K1s for the beneficiary will pass through their share of income and taxes witheld. If the beneficiaries have already filed their 2012 return that will need to be amended. Quote Link to comment Share on other sites More sharing options...
OldJack Posted May 27, 2013 Report Share Posted May 27, 2013 ....Or, the estate can pay the income tax [or request a refund] with the 1041 and then distribute the remainder to the beneficiaries tax free and no need to amend 1040s. Quote Link to comment Share on other sites More sharing options...
Guest Taxed Posted May 27, 2013 Report Share Posted May 27, 2013 I forgot to add if the trust was issued a EIN then the IRS will be looking for a 1041 and if it does not get one, they will promptly dispatch a letter reminding the trustee to file a 1041. I must get 3 or 4 every year from folks who neglected to file the 1041. Quote Link to comment Share on other sites More sharing options...
Terry D EA Posted June 4, 2013 Report Share Posted June 4, 2013 <<<Form 1099-R from his pension has been issued in the estate's EIN for 2012.>>>> IRS will be looking for form 1041. Stay with Jack on this one. <<<I must get 3 or 4 every year from folks who neglected to file the 1041.>>> If you constantly get all this stuff as you mention in virtually all of your posts, I don't know how you have time to POST! Quote Link to comment Share on other sites More sharing options...
Guest Taxed Posted June 4, 2013 Report Share Posted June 4, 2013 Because I am more efficient than you are. Is that good enough for you? Quote Link to comment Share on other sites More sharing options...
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