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Author: 6Bitsadollar Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121572  
Subject: Re: Help--Income in respect of Decedent Date: 3/24/2007 1:15 PM
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Thanks to all who have replied so far:

this is what I have done:
Mailed DD's tax returns (one less return to worry about)

Decided to file the returns for DH and me--or not (see below)


Decided to file for extensions on my mother's tax returns and take the whole mess to a CPA in May --I am still fighting over the insurance for her last ER visit. Also when I looked back over the entire thingy from Merrill Lynch I realized I had missed a page. Turbotax handled the nominee stuff for interest with no problem but I found I also have a capitol gain distribution as well as unrecap sec 1250 gain that is after her death. So far I haven't been able to figure out how to report that with turbo tax.

When I have her final return done, we will go over ours again and amend it.

The reduction to her income plus the addition to ours is almost a wash.
This is a lot of energy to do something which is basically revenue neutral for the feds.

I have not filed our federal return yet. I am thinking about an extension which normally would be a no-brainer. The problem here is I need to check with DD's university to see if I need to file a FAFSA (due May 1) for her sophomore year. She has a merit based tuition scholarship for 4 years and the original awarding of the scholarship was based on the fact that we couldn't meet the total cost of $43k a year without aid. With the increase to our Merrill Lynch account and a little bit from her regular bank accounts, I figure our EFC to be about $40k anyway. I don't think I need to do the FAFSA, but I will check with them to make certain on Monday. The FAQ at the website seems to indicate it isn't needed for merit recepients. If I don't need to do the FAFSA and finaid route, I will just get an extension on ours as well.

Molly--who doesn't always hate to pay for tax prep


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