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I have a client who passed away in 2013. taxpayer did not…

Hi there, I have...

Hi there, I have a client who passed away in 2013. taxpayer did not have a will. estate went through probate. her only asset ( a home) was sold in August 2017. The 1099-S reported the sale under decedent's social security number. Should representative of the estate file a form 1040 return reporting the sale or apply for an ID number for decedent's estate and file a form 1041 instead? Thanks for your help.

Accountant's Assistant: The Accountant will know how to help. Is there anything else the Accountant should be aware of?

Not at this time.

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3/16/2018
Carter McBride
Carter McBride, Certified Public Accountant (CPA)
Category: Tax
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Hey! I'm Carter, I'm a CPA and can help you out.

They need to apply for an EIN and file Form 1041 to report the sale.

Let me know if you need anything else. If not, please leave a rating. Thanks!

Carter McBride
Carter McBride, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 1,038
Experience: Adjunct Professor
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Customer reply replied 1 month ago
Thank you Carter for your quick response. One other question: might the IRS inquire perhaps a year or two from now about the decedent's 2017 tax return filing since the 1099-S is reporting the sale under their social security number? if the IRS does make an inquiry I suppose I can explain by presenting the form 1041 and the sale details reported on that return.

They shouldn't. They should have her marked deceased in their system which would stop a matching notice. If you do get one, it's a quick letter saying she passed and it was reported on the 1041.

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