I am the executor of my moms estate. I am filing her last taxes since the estate is closing. My mom had several stocks from Etrade that I sold and distributed the funds to my siblings. She also has a 401 acct with about 30,000 and had a savings interest act. I have left funds back to pay for the tax that will be needed to pay for the capital gains from the stocks and interest that was accrued. Her entire estate was less than 500,000. My question is if the estate is paying the taxes for the funds that were cashed out, do the siblings need to add the funds as income on their own IRS filings? We also had a home that we inherited upon her death that was not part of the estate. Who should have gotten the 1099-S form? There are 7 of us and I am wondering if the oldest would have been given that form.
