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New Member
posted Jun 1, 2019 9:47:34 AM

My father passed away in December 2016 but some of his savings accounts earned $900 in interest in 2017 before being distributed. How do I report this income to the IRS?

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1 Best answer
New Member
Jun 1, 2019 9:47:36 AM

I am sorry for your loss.

Since this interest income was earned after his passing and is more than $600, you would need to file an estate return to report this interest income.

IRS Form 1041, U.S. Income Tax Return for Estates and Trusts, is required if the estate generates more than $600 in annual gross income.

Click this link for more information - https://www.irs.gov/businesses/small-businesses-self-employed/deceased-taxpayers-filing-the-estate-i...

1 Replies
New Member
Jun 1, 2019 9:47:36 AM

I am sorry for your loss.

Since this interest income was earned after his passing and is more than $600, you would need to file an estate return to report this interest income.

IRS Form 1041, U.S. Income Tax Return for Estates and Trusts, is required if the estate generates more than $600 in annual gross income.

Click this link for more information - https://www.irs.gov/businesses/small-businesses-self-employed/deceased-taxpayers-filing-the-estate-i...