topic Re: 1099-C and Estates in Get your taxes done using TurboTax

Re: 1099-C and Estates

Anonymous_ — Fri, 18 Mar 2022 14:54:18 GMT

The amounts on the forms your received (1099-C) are essentially income to your mother's estate and should typically be reported on Form 1041.

See https://www.irs.gov/instructions/i1041#en_US_2021_publink1000285932

The relevant issues at this point are whether or not your mother's estate had assets, whether the estate was closed properly (e.g., creditors notified), and whether the assets (if any) were distributed and to whom.

You might want to consult with local legal counsel and/or a tax professional for this matter.

Re: 1099-C and Estates

dbgbsfin — Fri, 18 Mar 2022 19:28:56 GMT

Which version of TurboTax do I use for the Estate 1041?

Thank You

Davona

Re: 1099-C and Estates

Cass0317 — Sat, 19 Mar 2022 18:21:14 GMT

You'll need TurboTax Business to file Form 1041, as the personal versions of TurboTax don't support this form.

For more information, please see the TurboTax FAQ below:

How do I file Form 1041 for an estate or trust?

@dbgbsfin