OK, this may be a stupid question but when someone dies and a Revocable Trust becomes an Irrevocable Trust and a new EIN is issued how does the IRS link the Decedent’s 1040 to the Trust’s 1041 since the 1041 has the new EIN but not the Decendent’s Social Security Number? Can’t go by the name only because for example there might be a lot of a John Does who died and John Doe Trusts.
Along these same lines, my late father had an IRA and the Trust is the sole beneficiary for the inherited IRA. Last year 2024 when my father died I filled out paperwork with Charles Schwab. Since my father didn’t take an RMD lain 2024 the Trust Inherited IRA took his RMD and Schwab issued a 1099-R. How would the IRS know that the Trust took the RMD for my late father in 2024 when only the Trust EIN is on the 1099-R and not my father’s Social Security number? Does Schwab issue some other paperwork to the IRS beyond the scene in addition to the 1099-R to link my father’s IRA before he died to the Trust Inherited IRA?
Thanks!
