Playing with Mom's final 1040 I found from entering the 1099-DIV information and nominee information that TT makes calculations projecting Qualified Dividend numbers that are incorrect for my situation. I do not see any easy way to separate out nominee income numbers for the other income noted on the 1099-DIV.
As Executor, I'd like to instead complete the return for Mom using only the income incurred while she was alive, with only mentioning nominee income as required to make things clear. The income belonging to the estate (after death) would be sent to the estate with 1096/1099s.
So, in the end, the info on the Mom's return plus the info on the 1099s sent to the estate would equal the total of the 1099s received by the deceased.
I could enter 1099-INT and 1099-B nominee data and not Dividend data, but it seems to me that consistently including all or none of the nominee info on the deceased's return would be better.
This sounds great and would avoid having to work-around Turbotax's incomplete handling of nominee dividend/capital gain income... and minimize my opportunity to mess things up.
Are there any possible negative repercussions from taking this approach?
Would I need to include any kind of note on the return of the deceased stating what I did.
Any other thoughts?
