sbpilates
Returning Member

Get your taxes done using TurboTax

Yes, However the court only gives me 4 months to get this done.  Once the Taxes are field we have to wait on the IRS to confirm and allow us to close probate.  The issue here is the Gain he made in his Brokerage account.  He did not realize that removing the funds and reinvesting them in a new investment (crypto) would cause a Taxable realized gain in that year of 2021.  Now in 2022 he did lose all of the gain due to the crypto market crash.  

But Hes still going to be on the hook for the Gain in 2021 as far as i can tell..  The only other income he had at this point was under the 25k Threshold and from SS.   So I was expecting to see in his transcript sent to him for the last 3 years some income reported via 1099 from both the Brokerage account and the Crypto account but the IRS simply stated nothing on file.   

If i Go to the IRS I am concerned they will try to then open an Audit for the last ten years in order to increase what ever funds they might get..  And While its true they can only take what he has..  I need to be able to get this done and closed in order to have my own life back.    I woudl think the IRS would have a deceased person dept in order to help with this type of issues.. 

Also I am not at all clear how to move forward with the State he lived in ..   

And thank you Opus 17.