bcv,
Thank you for your input. I will take a look at this approach. You mention that this is what you do. Have you used this approach in the past and have you had any issue from the IRS? Are you a tax professional?
I apologize for the questions, but I have received advice similar to what RobertB4444 said, including from both a Tax accountant and an IRS phone representative. That advice just did not seem right, but no one has had a suggested solution until now, and searches yielded nothing helpful.
I also have a second issue that maybe you can shine a light on. I have nominee distributions for both interest and dividends on this return. I know that I need to create 1099s from the deceased's 1040 to the Estate 1041.
Since I am using TurboTax Business for the 1041, I see that you can create and efile 1099s using that software.
I did that, setting up the deceased as the "Payor business" and the Estate as the recipient. I did that and submitted the efile, but it was rejected. The reason on the email was "Your info doesn't match the IRS records".
I have verified with the IRS that the info for both the deceased and the Estate are correct, but it was rejected again. I'm wondering if my assumption that I can use TurboTax Business to do this for an individual is incorrect. Any thoughts?
Again,
Thank you for your assistance.
