I'm unsure if I will need to send 1099s as a nominee for decedent income for 2023. I'm waiting for the 1099s to arrive from banks and brokerages to see if the income has already been separated between decedent and trust.
Doing some preliminary research, I see 1099s must be sent by January 31. What if I don't have the original 1099s from the banks/brokerages in time? Some may come by forwarded mail, which adds to the drama.
It appears I will need to send a 1099 for each bank and brokerage. Is that correct?
Also, what it the easiest/quickest way to send the 1099s. A form to fill out? Online?
I looked at Turbotax and believe I understand how to separate out the 1099 income. Time will tell.
What else should I be asking about the nominee/income splitting process? I don't want to miss anything.
Thank you in advance!
