When are Executor Fees reported?

Forum|Forum|2 years ago
March 10, 2024
1 reply
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Should Executor fees be reported as other income on Form 1040 the year they were actually paid? It's time to file 2023 form 1040 but the Executor fees for a person who passed away in 2023 will not be paid until the middle of 2024. Should the fees then be included in 2024 income or 2023?
Thank you

TurboTax Online

Anonymous_

Level 15

The fees would be deductible in the tax year they are paid but only on Form 1041.

See https://www.irs.gov/instructions/i1041#en_US_2023_publink1000286136

RMClark55Author

Level 2

Thanks for your reply. I don't think I did a good job explaining. I was asking about the Executor reporting their paid fees for the administration of an estate. That income is reported by them on their Form 1040. Do they report the fees as income in the year they were actually paid or the year the decedent passed away. From your other answer I believe the answer is if the Executor Fees were paid to them in calendar year 2024 they would report them as income on their 2024 Form 1040? Thanks again.

Anonymous_

Level 15

OK, yes, then that would be reported as other income (miscellaneous income not subject to self-employment tax) in the tax year in which it is actually (or constructively) received (2024 in this instance).