topic How do I allocate my late mother's brokerage capital gain distributions and dividends in her year of death between her 1040 thru DoD and the trust's 1041 DoD to year end? in Business & farm

How do I allocate my late mother's brokerage capital gain distributions and dividends in her year of death between her 1040 thru DoD and the trust's 1041 DoD to year end?

ROBERTG22 — Sat, 07 Nov 2020 17:26:31 GMT

Re: How do I allocate my late mother's brokerage capital gain distributions and dividends in her year of death between her 1040 thru DoD and the trust's 1041 DoD to year end?

Anonymous_ — Sat, 07 Nov 2020 17:59:35 GMT

You have to examine her brokerage statement(s) to make that determination.

However, many (if not most or all) mutual funds make their capital gains distributions toward the end of the calendar year (typically November and, perhaps more commonly, December).

Re: How do I allocate my late mother's brokerage capital gain distributions and dividends in her year of death between her 1040 thru DoD and the trust's 1041 DoD to year end?

Critter-3 — Sat, 07 Nov 2020 18:13:48 GMT

Did you not alert the broker that she passed ? If the broker account did not have a beneficiary and an estate had to be opened and and EIN for the estate gotten then the broker should have issued 2 forms ... one for the decedent and one in the name & number of the estate and the income would have been automatically been divided. Talk to the broker.