Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

Trying to determine was to do with a 1099-c addressed to an…

Customer Question
Trying to determine was...

Trying to determine was to do with a 1099-c addressed to an estate.

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

The estate received 1099-c two years after the person died

Accountant's Assistant: Is there anything else the Accountant should be aware of?

Estate is insolvent

Submitted: 3 months ago.Category: Tax
Show More
Show Less
Ask Your Own Tax Question
Answered in 6 minutes by:
3/24/2018
Tax Professional: Lev, Tax Advisor replied 3 months ago
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 33,140
Experience: Taxes, Immigration, Labor Relations
Verified

Formally - we need to file the estate tax return - on form 1041

and attach form 982 to claim insolvency exemption.

Let me know if you need any help with reporting.

Ask Your Own Tax Question
Tax Professional: Lev, Tax Advisor replied 3 months ago

I appreciate if you take a moment to rate the answer.

Experts are ONLY credited when answers are rated positively.

If you still have any doubts, need clarification - please be sure to ask.

I am here to help you with all Social Security / Tax related issues.

Ask Your Own Tax Question
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a tax professionalLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask Lev Your Own Question
Lev
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 33,140
33,140 Satisfied Customers
Experience: Taxes, Immigration, Labor Relations

Lev is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,512 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

59 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

15,569 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Related Tax Questions
A former employee died in August 2016. At the time he died
A former employee died in August 2016. At the time he died he owed the company over $100,000. The debt arose years ago when he bought an asset from the company (a motor home). He fell on hard times an… read more
Tax.appeal.168
Tax.appeal.168
Principal
13 satisfied customers
My husband died in October 2016. He had a student loan in
Hi, my husband died in October 2016. He had a student loan in his name only. The loan was forgiven upon his death. He received a 1099-C and 1098E. I filed my income taxes separately for 2016. We had a… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
33,140 satisfied customers
My husband died last year and he had a parent plus loan in
My husband died last year and he had a parent plus loan in his name only. They forgave the loan a couple of months after he died and I have read when the borrower dies the spouse or estate do not have… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
33,140 satisfied customers
I have a question about a Form 1041. Wife's mother died in
I have a question about a Form 1041. Wife's mother died in 2012, my wife was executor of the estate. Wife filed final 1040 for 2012 and proceeded to have an attorney probate the estate. We determined … read more
TaxWhisperer
TaxWhisperer
Principal
Masters Science Taxation
3 satisfied customers
My wife died in 2015, should I file jointly or seprate? she
my wife died in 2015, should I file jointly or seprate? she made 30k from a self employed business that had no taxes taken out and had a student loan forgiven for $60k. I am the executor of her estate… read more
socrateaser
socrateaser
1,452 satisfied customers
My question is regarding a 1099-C deceased person whose
My name is ***** ***** my question is regarding a 1099-C for a deceased person whose estate has been closed for 6 years … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
47 satisfied customers
My name is ***** *****. My daughter died in September, 2015.
My name is ***** *****. My daughter died in September, 2015. She has since received two 1099-C's totaling 14,000+ for cancellation of student loans. I understand from a reply 6 years ago that this is … read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
33,140 satisfied customers
My wife's mother passed away in 2012, she was single with no
My wife's mother passed away in 2012, she was single with no dependents at the time. My wife was Executrix for the estate. In 2013 my wife filed her mother's final 1040 federal tax return for 2012. In… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,655 satisfied customers
I live in Delaware. I just received a 1099-C forgiving a credit
I live in Delaware. I just received a 1099-C forgiving a credit card debt addressed to my mother, who died in 2013. No estate, no will, no probate; she lived on her SS and a small pension, both of whi… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
33,140 satisfied customers
My brother-in-law died in April, 2014. I am the executor of
My brother-in-law died in April, 2014. I am the executor of his estate. The estate sold his house in September, 2014 less than the loan amount. The bank forgave the remaining amount. But I received a … read more
CFEPro789
CFEPro789
Fraud Analyst
Master\u0027s Degree
369 satisfied customers
Client died, has an estate, personal representative sold the
Client died, has an estate, personal representative sold the residence. Loss on residence approximately -4,800, also has some mortgage interest deduction. Representative has been paying medical bills … read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,655 satisfied customers
My wife is the executrix of her late mothers estate. Her
My wife is the executrix of her late mother's estate. Her mother was single when she died in late 2012, no dependents. My wife recently received two 1099-Cs, one in her deceased mother's name, the oth… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,655 satisfied customers
Deceased married taxpayer, who died 2-16-2013, recieves 1099-C
Deceased married taxpayer, who died 2-16-2013, recieves 1099-C for forgiveness of student loan debt dated 5-23-13. Taxpayer SS# XXXXX XXXXX the form. Taxpayer not insolvent at time of death. If the in… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,655 satisfied customers
My father died testate on Dec 26, 2011. I filed his will which
My father died testate on Dec 26, 2011. I filed his will which left me executor on Dec 29,2011. My fathers estate was considered insolvent. My sister and I decided to pay all his medical bills and his… read more
R. Klein, EA
R. Klein, EA
Tax Advisor
Master\u0027s Degree
3,104 satisfied customers
Im in Florida. My wife died 1/16/10. I just received (1/24/12)
I'm in Florida. My wife died 1/16/10. I just received (1/24/12) a 1099-C from a bank/credit card for cancellation of debt. We co-owned everything, therefore there was no probate or estate. She was the… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
33,140 satisfied customers
An individual died in 2009. In 2010, Toyota sent a 1099-C for
An individual died in 2009. In 2010, Toyota sent a 1099-C for the portion of the lease which was canceled as a result of the death of the lessor. They did this because the widow did not want to contin… read more
Wallstreet Esq.
Wallstreet Esq.
Tax Attorney
Doctoral Degree
586 satisfied customers
I did not receive a 1099-C how can I still be taxed?
I did not receive a 1099-C for cancellation of debt. The debt is well over ten years old. Now I'm being taxed on it. How can they do this and why? What can I do.… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
what tax form needs to be filed when a persons estate is less
what tax form needs to be filed when a persons estate is less than the exemption amount for the year but it stays open for multiple years. before closing and everything is yaken care of. The person di… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
33,140 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x