https://ttlc.intuit.com/community/taxes/discussion/estate-income-received-under-personal-social-security-number-how-to-split/01/3131956#M1148828 <P>I have collected interest income for my late mother's estate under my personal social security number. This income needs to be split between 3 beneficiaries.&nbsp; How do I report this to the IRS?</P><P>&nbsp;</P><P>Ex. I will be receiving a 1099-INT for $1,920.&nbsp; However, my portion is only $640 once divided. How do I avoid paying taxes on the remaining $1,280 which was distributed to the other 2 beneficiaries?</P><P>&nbsp;</P><P>The IRS says to use a K-1 for estates and trusts.&nbsp; Is this the appropriate form given that the income was reported under my personal SSN?</P> Tue, 10 Feb 2026 09:58:12 GMT misfish90 2026-02-10T09:58:12Z https://ttlc.intuit.com/community/taxes/discussion/estate-income-received-under-personal-social-security-number-how-to-split/01/3131956#M1148828 <P>I have collected interest income for my late mother's estate under my personal social security number. This income needs to be split between 3 beneficiaries.&nbsp; How do I report this to the IRS?</P><P>&nbsp;</P><P>Ex. I will be receiving a 1099-INT for $1,920.&nbsp; However, my portion is only $640 once divided. How do I avoid paying taxes on the remaining $1,280 which was distributed to the other 2 beneficiaries?</P><P>&nbsp;</P><P>The IRS says to use a K-1 for estates and trusts.&nbsp; Is this the appropriate form given that the income was reported under my personal SSN?</P> Tue, 10 Feb 2026 09:58:12 GMT https://ttlc.intuit.com/community/taxes/discussion/estate-income-received-under-personal-social-security-number-how-to-split/01/3131956#M1148828 misfish90 2026-02-10T09:58:12Z https://ttlc.intuit.com/community/taxes/discussion/re-estate-income-received-under-personal-social-security-number-how-to-split/01/3131999#M1148843 <P>A form 1099-INT reporting interest income is reported in the <STRONG>Federal</STRONG> section of TurboTax, under <STRONG>Wages and Income</STRONG>, in the <STRONG>Interest and Dividends</STRONG> subcategory.</P> <P>&nbsp;</P> <P>You will report the Form 1099-INT initially in TurboTax as if you received the full amount of interest. On the next page after you enter the Form 1099-INT, you will see a page that says <STRONG>Tell us if any of these uncommon situations apply</STRONG>, and you need to choose the option that says <STRONG>I need to adjust the taxable amount</STRONG>. The next page will say <STRONG>Report Interest Adjustment</STRONG> and you will enter as a negative number the interest income that does not belong to you. Also, check the box that says<STRONG> I</STRONG> <STRONG>received all or a part of this interest for someone else (I am a nominee.)</STRONG> That way, you will only be taxed on your share of the interest income.</P> <P>&nbsp;</P> <P>You should report the interest income on your personal tax return since it is listed under your social security number. &nbsp;</P> Wed, 17 Jan 2024 02:56:39 GMT https://ttlc.intuit.com/community/taxes/discussion/re-estate-income-received-under-personal-social-security-number-how-to-split/01/3131999#M1148843 ThomasM125 2024-01-17T02:56:39Z