DianeW777
Expert Alumni

Retirement tax questions

The guidance for this can be found in IRS Publication 559.  The IRS would require this income to be included on the return of the beneficiary.  Depending on the amount and how it affects the tax return, review the information below for a request to remove the income and additional tax, if any, from your tax return.  You do not file another return for your father.

 

Request for discharge from personal liability for tax.

 

An executor can make a request for discharge from personal liability for a decedent's income, gift, and estate taxes. The request must be made after the returns for those taxes are filed. To make the request, file Form 5495. For this purpose, an executor is an executor or administrator that is appointed, qualified, and acting within the United States.

 

Within 9 months after receipt of the request, the IRS will notify the executor of the amount of taxes due. If this amount is paid, the executor will be discharged from personal liability for any future deficiencies. If the IRS hasn't notified the executor, he or she will be discharged from personal liability at the end of the 9-month period.

 

NOTE: Even if the executor is discharged from personal liability, the IRS will still be able to assess tax deficiencies against the executor to the extent he or she still has any of the decedent's property.

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