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How do you enter interest income from a POD account?
I understand that interest posted on a POD account after the original owner's death through the time the account is claimed by the beneficiary must be reported as income. This amount is not derivable from a 1099-INT, but can be computed from the account's transaction history. How should this interest be reported? What form should be used to enter the data? Create a fake 1099-INT for each POD account?
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‎June 3, 2019
12:47 PM