Hi,
I wanted to sell stock from my mother's estate after she passed( I am the executor). I was told by shareholder services that I have to tansfer the shares to an account that I own then sell the shares. They would not sell the shares from a deceased account holder. I created a new account but when I filled out the w-9 for backup withholding, I checked the wrong box for the type of account I wanted to set up. I wanted to set up an individual account but I checked the estate/trust box. Even though I signed the form stating I am not liable for backup withholding, they took out 24% backup withholding because my form was wrong. They will not refund the money because I closed the account after the shares were sold.
My question is: How do I account on the 1040 for this situation? I called the IRS but could not get through.
Thanks,
Eric
