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Author: vkg Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121317  
Subject: Final Return? Date: 6/19/2011 3:22 PM
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My father recently passed away. I would like to change the mailing address on his accounts to my address. I live in California and he lived in a different state. Will this case any problem with state income taxes?
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Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 113539 of 121317
Subject: Re: Final Return? Date: 6/19/2011 3:29 PM
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My father recently passed away. I would like to change the mailing address on his accounts to my address. I live in California and he lived in a different state. Will this case any problem with state income taxes?

No. (I'm assuming you're his personal representative.)

Phil
Rule Your Retirement Home Fool

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Author: vkg Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 113541 of 121317
Subject: Re: Final Return? Date: 6/19/2011 3:59 PM
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No. (I'm assuming you're his personal representative.)

His will designated me as his personal representative. I am in the process of starting probate.

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Author: ptheland Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 113547 of 121317
Subject: Re: Final Return? Date: 6/19/2011 8:25 PM
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My father recently passed away.

My condolences on your loss.

I would like to change the mailing address on his accounts to my address. I live in California and he lived in a different state. Will this case any problem with state income taxes?

No and yes.

No, just having a mailing address in another state does not make the income taxable by that state.

Yes, in that California has an information sharing program with the IRS. CA gets some tax return info for any return with a CA address. If they can't find a corresponding CA return, they will send you a letter asking you to explain what's going on. Just respond with what you said here, and CA will go away.

In short, CA will probably ask you to explain why you didn't file a CA return. Just tell them what's going on and they'll be happy.

--Peter

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Author: BruceCM Big red star, 1000 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 113549 of 121317
Subject: Re: Final Return? Date: 6/20/2011 11:34 AM
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The act of changing mailing addresses should have no impact on your CA state taxes, notwithstanding Peter's comments.

But what now will be mailed to your address? If you were named beneficiary of his IRA(s) or qualified retirement plan(s) or deferred annuity(s) or interest on his CD(s) or MF/Stock dividends, etc, etc...then that will be income to you and would most likely be reportable as income for CA state tax purposes....although whether IRA/retirement plan withdrawals are includable as income can vary by state.

BruceM

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Author: vkg Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 113552 of 121317
Subject: Re: Final Return? Date: 6/20/2011 2:17 PM
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But what now will be mailed to your address? If you were named beneficiary of his IRA(s) or qualified retirement plan(s) or deferred annuity(s) or interest on his CD(s) or MF/Stock dividends, etc, etc...then that will be income to you and would most likely be reportable as income for CA state tax purposes....although whether IRA/retirement plan withdrawals are includable as income can vary by state.

No 401Ks or other retirement plans. Interest on CDs and what for me are out of state muni bonds will need to be handled.

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