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Oldballcoach
March 1, 2025
Question

Father in Law passes in 2023.

  • March 1, 2025
  • 1 reply
  • 0 views

Received interest statement for account that we forgot about for 2024. Already did 2023 taxes as his final. Help!!! How do I report them.  TT already has his death. 

 

Thank you

 

    1 reply

    M
    MAK70
    March 11, 2025

    Whoever the interest passed to can report the income on their personal income tax return.  See How To Report.

     

    In Turbo Tax, under Less Common Income select Miscellaneous Income, 1099-A, 1099-C
     

    1. On the Let's Work on Any Miscellaneous Income page, select Start to the right of Other reportable income
    2. On the Any Other Taxable Income? screen, select Yes
    3. On the Other Taxable Income screen enter the description "IRD received for name" then the amount.  Select Continue
    4. On the Other Miscellaneous Income Summary screen, select Done
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