Question

Mother widowed 2020. Receives Social Security since 2020. In 2023 she closed an annuity account & received a 1099-R with taxable income. The recipient is a TRUST...

Forum|Forum|2 years ago
March 14, 2024
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She did not file taxes 2022 because only received SS. How do we report the 1099-R to the trust?

TurboTax Deluxe Online

If the 1099-R that you received was issued to the trust with the trust's EIN number on it then you have two options for filing it.

If the amount in box 2 is over $600 then the trust can file a tax return. You'll file form 1041 and set up the beneficiaries in the form. The trust can pay the taxes or pass the taxable income through to the beneficiaries.

If the trust is set up with your mother as the sole beneficiary then you can put the income directly onto her tax return even though the 1099-R is made out to the trust.

If your mother's SSN is on the 1099-R, you can file a return for her (even though she didn't have to file in 2022) and include this as income along with her social security.

@polizzidad

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P

polizzidadAuthor

Thank you RobertB4444,

Makes sense but have a couple other questions:

1) The 1099-R does not have an EIP, but an TIN which shows last few digits which are my passed fathers SS#.

The form is XX-XXXXXX. Can i still fill an 1041 with the TIN in stead of the EIP (same thing?)

2) Since the 1099-R does NOT have my mother's SS# as TIN, but has my father's. Can she still file along side personal file with her SS income with using the TIN (which is my father's SS#)

3) The gains she received went into a checking account which is also the same TRUST name. Do we still have to file?

Thank you for the help, this is so confusing for just a small amount. $18k income form the 1099R

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RobertB4444

I would reach out to the company that issued the 1099-R and point out that your father passed in 2020. That way they can correct the 1099-R to show your mother's SSN. But, either way, the easiest thing for you to do is just file a tax return for your mother with this 1099-R and her social security income on it and then be done with it.

@polizzidad

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