If a deceased person's investment and savings accounts were fully distributed to beneficiaries and all accounts were $0 before the end of 2024, a 1099-INT might still be issued if any interest was earned before the accounts were closed and the funds distributed.
- Per the IRS - After a decedent's death, Forms 1099 must reflect the identification number (EIN, individual identification number (ITIN), or social security number (SSN)) of the estate or beneficiary to whom the amounts are payable.
- Double check with the executor to see if an 1099-int were received and how they were accounted for.
- Check with Financial Institutions: Confirm if any interest was earned and reported for 2024.
- For more details, you can refer to the IRS guidelines on handling a deceased person's tax matters.
