D2
Level 1

Estate tax on annuity

I am the executor for my deceased Aunt. I set up an estate bank account and sold the home and all her property. All monies were placed in the bank account. There was also an annuity. I cashed it out, and placed proceeds in the bank account. The Financial company automatically withheld federal income tax. Should I pass the tax owed on annuity to the beneficaries? Can the estate get a refund on taxes paid?"