Recently widowed

mharakal — Wed, 16 Nov 2022 21:02:18 GMT

My partner recently passed away on May 1, 2022. We were not married so always filed taxes separately. We own a home together (joint tenants with rights of survivorship) and had a joint checking account and a joint savings account. I was also the beneficiary of his life insurance policies.

I do have an estate lawyer who will be helping me file the estate taxes for 2022 and I have already prepaid the inheritance taxes for the home and joint bank accounts. My questions are:

- As the administrator of his estate, how do I go about filing his personal taxes for 2022? Last year he filed online with TurboTax. Is there a way that I can get access to his account to complete this?

- What will impact my personal taxes for 2022? I assume it will only be the interest gained on the life insurance policies (as they have been deposited into my personal savings)?

- I sold my car and purchased his car privately. Does this have any impact on my personal tax return?

- Is the pre-paid inheritance tax settled by the estate lawyer once he files the estate tax return or is that handled in my personal return?

Re: Recently widowed

DavidT0202 — Thu, 17 Nov 2022 00:17:50 GMT

Hi @mharakal

I am sorry to hear about your loss. It is wonderful you have an Attorney handling the Estate return, this will save you a lot of work.

Lets get to your questions:

Unfortunately, you will not be able to use his previous account in order to file. You can however purchase Desktop so that you can do both your partners and your return without paying for 2 programs.

As far as filing, there is check boxes to mark showing that you are filing the final return. It is located in the personal info section and will ask if the person is deceased.

- What will impact my personal taxes for 2022? I assume it will only be the interest gained on the life insurance policies (as they have been deposited into my personal savings)?

There is no federal inheritance tax—that is, a tax on the sum of assets an individual receives from a deceased person. However, a federal estate tax applies to estates larger than $12.06 million for 2022 ($12.92 million in 2023). - The tax is assessed only on the portion of an estate that exceeds those amounts.

- I sold my car and purchased his car privately. Does this have any impact on my personal tax return?

It will not. It will have an affect on the estate tax.

- Is the pre-paid inheritance tax settled by the estate lawyer once he files the estate tax return or is that handled in my personal return?

Yes. Any taxes paid on behalf of the estate should and will be settled by the lawyer.

If you have further questions lease reply below.

Thank you for using TurboTax!

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Recently widowed

Re: Recently widowed