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Angie
Angie, Tax Preparer
Category: Tax
Satisfied Customers: 226
Experience:  Bookkeeping, Profit and Loss, Balance SheetsAll types of US Taxes, Tennessee taxes, Personal, business, payroll, sales tax etc.
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My father-in-law passed away in December 2014 he had an IRA

Customer Question

My father-in-law passed away in December 2014 he had an IRA that didn't have a beneficiary listed my mother-in-law was listed on everything else it was a error made by the bank that receive the funds from another bank they forgot to list her. So after his death we were told we had to open an estate account . We did that and then after probate in 2015 we closed out the estate account and deposited the money into my mother-in-law's account we filed her taxes this year as an individual and we received a tax document to file from the bank for the estate for taxes we took it to the AARP office and they told us that because it's listed to the estate of my father-in-law that she can't file it along with her stuff as an individual it was for the estate account do we need to file taxes just for this one document under the estate
Submitted: 1 year ago.
Category: Tax
Expert:  Angie replied 1 year ago.
Yes..you will need to file a 1041 for the estate. (Seems silly for one document, but because there was an estate opened, the return will need to be filed.) This will generate a K-1 with your mother in laws "share" of the estate that she will include with her tax return.
Customer: replied 1 year ago.
So i will need to have her return amended, since she already filed?
Expert:  Angie replied 1 year ago.
Yes... you will need to file the 1041 and then amend her return to include the information on the K-1
Customer: replied 1 year ago.
Ok thank you.
Expert:  Angie replied 1 year ago.
You are very welcome! Thanks for using Just Answer.