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Which of the following is true regarding depreciation on a
Which of the following is true regarding depreciation on a trust?It is allocated in its entirety to an income beneficiary and reported on Schedule K-1 It is allocated in its entirety to the trust on F… read more
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I have a client whose estate earned and received over $600
I have a client whose estate earned and received over $600 in "Exempt Interest Dividends" during 2015. This was the only income of the estate. Do I have to file federal and NYS estate tax returns for … read more
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My mother's estate is approximately 2 million. Most of the
My mother's estate is approximately 2 million. Most of the assets were distributed via beneficiary designations on retirement accounts. One brokerage account held by the family trust was distributed t… read more
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I have a client that passed away in on 3/30/10. She resided
I have a client that passed away in on 3/30/10. She resided in NJ. The value of her assets are approximately $1,400,000.00. The breakdown is $600,000.00 stocks and bonds and her main residence $800,00… read more
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my mom had $150K in bank accounts, I am trustee and executor,
my mom had $150K in bank accounts, I am trustee and executor, I have paid all outstanding medical and other bills. I disbursed 22,500 to one of 7 a beneficiaries (who needed money to pay for divorce. … read more
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what if form 8855 was not filed and the trust is electing 645,
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Appraisal fee for sale of decendents's residental property.
Appraisal fee for sale of decendents's residental property. Is it deductible in Form 1041 and if so, where on the return?… read more
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The previous question was incomplete. It was a 2012 tax form
The previous question was incomplete. It was a 2012 tax form to be file in 2013, and Tax dept wants us to use 1041 instead of 1040, the taxpayer died in February 2013. Why do we have to use 1041? Plea… read more
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An Decedent estate only asset is a bank account. The balance
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Is the non-taxable portion of an annuity or retirement distribution
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The decedant died in Oct 2011. As personal representative of
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My wife died and i am the executor of her Trust in FLThe
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have an Estate Account that earned interest of 5000 dollars
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My mothers trust is valued at $350,000, $100,000 life insurance
My mother's trust is valued at $350,000, $100,000 life insurance and balance in mutual funds, bonds etc. What will the estate pay in federal taxes or how much do I hold until next year will I final a … read more
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If the decedant estate has 1099 income, dividends and capital
If the decedant estate has 1099 income, dividends and capital gains in 2009 I know I need to file a 1041 Estate Income Tax Return form the date of death until 12/31/09. In addition, I need to file a d… read more
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If an estate has accrued interest in series e savings bonds
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A client reported farm income, expenses and some interest and
A client reported farm income, expenses and some interest and dividends on form 1041, a complex trust which hold assets from his wife's family. She died in 2005. The client now has passed away and his… read more
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