@myTax wrote:
Does this mean that she get to "choose" if, $10.74 be reported as interest under her mom's estate (mom's 1041 estate tax return) or hers ? (her own individual 1040 tax return)
No, If there was a benificuary of the account then the estate has nothing to do with it. It either goes on Mom's final tax return or the beneficiaries, depending if the interest was paid before death or after (or some of each in which case it would be prorated. (For $10.74 I would not worry about where it is reported - if thousands of dollars then it would make a difference.)
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
