topic 1099-INT for deceased person in Get your taxes done using TurboTax

1099-INT for deceased person

mhmc — Wed, 19 Feb 2025 18:09:17 GMT

If a deceased person’s investment and saving accounts were fully distributed including both principles and interests to beneficiaries well before the end of 2024, so that all accounts were at 0, would there be 1099-INT mailed to deceased person?

Re: 1099-INT for deceased person

SabrinaD2 — Wed, 19 Feb 2025 18:34:32 GMT

If a deceased person's investment and savings accounts were fully distributed to beneficiaries and all accounts were $0 before the end of 2024, a 1099-INT might still be issued if any interest was earned before the accounts were closed and the funds distributed.

Per the IRS - After a decedent's death, Forms 1099 must reflect the identification number (EIN, individual identification number (ITIN), or social security number (SSN)) of the estate or beneficiary to whom the amounts are payable.
- Double check with the executor to see if an 1099-int were received and how they were accounted for.
Check with Financial Institutions: Confirm if any interest was earned and reported for 2024.
For more details, you can refer to the IRS guidelines on handling a deceased person's tax matters.

Re: 1099-INT for deceased person

mhmc — Sat, 22 Feb 2025 14:54:55 GMT

Thank you for this information. Because of your answer, I have now contacted every place that should have sent a 1099, and am able to get each one. I am the Executor.