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Get your taxes done using TurboTax
Thank you again,
So to make sure I understand this,
For POD bank account naming her as beneficiary,
1) interest was paid before death, ( $10.74 ) report it on mom's 1040 individual tax return
2) interest was paid after death, ( $10.74 ) report it on her 1040 individual tax return
3) in either case, 1041 fiduciary return is NOT required ( no estate exists )
4) This is true for interest greater than $600 or if interest in the amount of thousands of dollars are paid
Is this correct ?
‎November 3, 2019
7:25 PM