L.S. Posted November 8, 2010 Report Share Posted November 8, 2010 executor of closed estate received letter from IRS re: 2008 form 1040. individual was under income limits for that year so did not file return, but had $73,000 on a 1099B that with the cost basis would have shown a loss. do we now have to file 2008 return? if so, who would sign this? thanks, Should a return always be filed in a case like this - even though under income limitations? Quote Link to comment Share on other sites More sharing options...
Tax Prep by Deb Posted November 8, 2010 Report Share Posted November 8, 2010 executor of closed estate received letter from IRS re: 2008 form 1040. individual was under income limits for that year so did not file return, but had $73,000 on a 1099B that with the cost basis would have shown a loss. do we now have to file 2008 return? if so, who would sign this? thanks, Should a return always be filed in a case like this - even though under income limitations? The 1099B put him or her way above income limits for filing. IRS has no way of knowing the basis, that is why a return should have been filed. At least that would be my thinking. As to who should file the return, again I would think it would be whoever received the letter, in this case the executor. But then again I could be wrong! Deb! Quote Link to comment Share on other sites More sharing options...
joanmcq Posted November 11, 2010 Report Share Posted November 11, 2010 Answer the letter. Quote Link to comment Share on other sites More sharing options...
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