Hmm, payee was not alive to cash the checks so checks issued in error were not received by payee/decedent. More Hmmm. Checks payable to a decedent could certainly be negotiated by the decedent's estate. So we're back to constructive receipt, but by the estate and not the decedent. I think.That would be my position. Anything paid after the date of death belongs to the estate and needs to be reported/corrected there.And that would mean the income on the 1099 should be apportioned between the decedent's final return and the estate's income tax return. But now we're back to a mismatch between 1099s and the return, which will generally generate correspondence. Maybe I've been fortunate, but I've never had a CP2000 document mismatch notice on a decedent's final return and the returns always have income reported to the decedent that is allocated to the estate.Ira
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra