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mullyscully2
New Member

Does Deceased pay on distributions from Charles schwab account that was retired and 84.

my mother died this year.  Her Charles Schwab account has recently been closed and we have the check to be distributed to the kids.  She was retired and 84.  Does she owe any taxes on the distribution?

6 Replies
fanfare
Level 15

Does Deceased pay on distributions from Charles schwab account that was retired and 84.

who is her executor ? who will file her final personal tax return ?
mullyscully2
New Member

Does Deceased pay on distributions from Charles schwab account that was retired and 84.

One of her daughters is her executor
fanfare
Level 15

Does Deceased pay on distributions from Charles schwab account that was retired and 84.

the final return must be prepared, and any tax due, or other debts, paid before the remainder of the estate can be disbursed.
mullyscully2
New Member

Does Deceased pay on distributions from Charles schwab account that was retired and 84.

Yes we r but can we file the return now for 2019. Or include it in 2018
fanfare
Level 15

Does Deceased pay on distributions from Charles schwab account that was retired and 84.

if she passed this year the return is due April 15 2020, 2019 forms are not available. you can make an estimated tax payment  to pay in full for 2019 at <a rel="nofollow" target="_blank" href="http://www.irs.gov/payments">www.irs.gov/payments</a>.

The 2018 return should also be filed.
fanfare
Level 15

Does Deceased pay on distributions from Charles schwab account that was retired and 84.

you don't really know if there is tax due or a refund until you fill out the tax forms.
You can use 2018 software to estimate 2019 tax.

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