Unfortunately, from recent experience, brokerages will NOT re-issue a current year 1099 due to their misreporting under a SS# for a taxpayer who died the previous tax year, even when they've known the date of death for months. If the account went to an estate, I've had CPAs tell me to just report it on the estate return. If the IRS questions it, write a letter and explain. Most investment companies will report under the deceased's SS# until the date the account is transferred to the estate, a TOD beneficiary, or trust. If there are multiple beneficiaries of the account which are transferred at separate dates, they will continue to report the un-transferred portion under the SS# until it is transferred. They simply do not care and according to FINRA, they aren't required to correct a 1099 incorrectly reported that way. Companies that issue K-1 packages for PTP (publicly traded ptshps) are sometimes more accommodating, if you catch the error before they file the final partnership or LLC return to the IRS.
I am dealing with a situation very similar to yours, but with multiple brokerage accounts some of which hold PTPs, multiple TOD beneficiaries, a probate estate, a trust and different transfer dates for each. The only saving grace is the death occurred on the last day of 2020 and no need to allocate income pre- & post-death for 2020.
