Finance Questions? Ask a Financial Expert for Answers ASAP
Thanks for your question, and thanks for using JustAnswer.com. You will need to get an EIN for the estate and have the 1099 issued to the estate.
You can file for an EIN by filling out form SS-4 or going online HERE and completing the application.
Then, using that EIN you would open up a bank account so that the check could be deposited directly to the estate. Then, you could pay tax out of that estate account.
This should get you where you can get the income into the estate.
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I just looked at the site for the EIN form. It states that there is no need in filing the form, we ask the questions, and the EIN will be sent. I didn't see any questions, or link to questions. Who will be asking the questions, and Is this site affiliated with the IRS?
The link I gave you is to the IRS directly.
So, the IRS is asking the questions and you are providing information directly to the IRS
Megan, thanks you have been great..
I was not designated in any will or by the courts. I have been designated by the heirs to act on their behalf. All the heirs signed a POA granting me the authority to handle the rental payments for the estate. In reviewing the SS-4, I noted it asked info about my status as an administrator, representative, etc. The decedent, of the estate was my grandfather and he passed in 1942, and he did not have a SS number. The property is heir property, and has pretty much just passed down. What are my options?