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Arthur Rubin
Arthur Rubin, Tax Preparer
Category: Capital Gains and Losses
Satisfied Customers: 1493
Experience:  Over 22 years of tax preparation experience.
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I received a 1099 div on my fathers estate in april 1 2016

Customer Question

I received a 1099 div on my fathers estate in april 1 2016 the estate was closed 12-24-2015..these particular stocks were finally turned over to my brother on jan 6 2015 due to his totally incompetence and greed..they were reported on the final 1040 for the estate on the 2012 tx return. dad passed on 2/7/13....they are listed as the estate with my name because I was executrix....what should I do do I need to file something
Submitted: 6 months ago.
Category: Capital Gains and Losses
Expert:  TaxWhisperer replied 6 months ago.
Hello, a couple of questions:What is the dollar amount of dividends in box 1 of the 1099?Look at the 1099-DIV whose social security number is ***** it? They may only list the last 4 of the SSN?Is it yours?
Expert:  Arthur Rubin replied 6 months ago.
I think I can give general answers without the information TaxWhisperer requested. Whoever the 1099-DIV was made out to (you or the estate) needs to issue a nominee 1099-DIV to your brother. The estate probably should have informed the broker or the company of the transfer. In any case, the dividends belong to your brother, and should not be placed on the 1041 Schedule K-1, even if the estate wasn't closed.
Expert:  Arthur Rubin replied 6 months ago.
If the stocks were turned over to him on Jan 6 2016, the dividends should be on the estate's final return, and contribute to the amounts on the 1041 Schedule K-1.

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