topic If my 1099-MISC only has my deceased husband's TIN for a rental real estate and not mine and the rental is held in our trust, do I still report it on my tax return? in Investors & landlords

If my 1099-MISC only has my deceased husband's TIN for a rental real estate and not mine and the rental is held in our trust, do I still report it on my tax return?

mamitey642 — Sun, 20 Sep 2020 00:46:56 GMT

I am filing as a single this year and have yet to update property documents to reflect my TIN.

Re: If my 1099-MISC only has my deceased husband's TIN for a rental real estate and not mine and the rental is held in our trust, do I still report it on my tax return?

Carl — Sun, 20 Sep 2020 02:58:21 GMT

I'm sorry for your loss.

If your husband passed in 2019, then you still get to file a joint return and claim his standard deduction for the entire 2019 tax year. Therefore you will report the income *exactly* the same way you did in 2018.

I can't get more specific, because you provide no particular's about the trust. For example, if the trust owns the rental property, then the income is reported on the 1041 trust return.

Now I would expect a trust to have it's own EIN. But that depends on the type of trust. Since you refer to the trust as "OUR" trust, there's no way of knowing if it's a revocable trust that became irrevokable upon the passing of your husband, or if it remains revokable until both of you have passed...... assuming that you and your late husband are the only owners/trustees of the trust.

Trusts can be very complicated - especially a joint trust. So that's something that if you're not sure, I would highly recommend you seek professional help... preferably from the entity that drew up the trust for you two if possible.

Re: If my 1099-MISC only has my deceased husband's TIN for a rental real estate and not mine and the rental is held in our trust, do I still report it on my tax return?

Anonymous — Sun, 20 Sep 2020 06:41:45 GMT

sorry for your loss. see a lawyer. we can't see the trust instrument which dictates how the property held by it is treated and what happens to it when one beneficiary dies.

I have never seen one trust where both H&W contribute property to it and they both are beneficiaries. usually, there are two separate trusts where the other spouse and maybe others named as beneficiaries. the only situation where I could see both H&W as beneficiaries is when a third party sets up a trust and names H&W as beneficiaries.

Re: If my 1099-MISC only has my deceased husband's TIN for a rental real estate and not mine and the rental is held in our trust, do I still report it on my tax return?

Anonymous_ — Mon, 21 Sep 2020 21:11:52 GMT

@Anonymous wrote:
I have never seen one trust where both H&W contribute property to it and they both are beneficiaries.

Those types of trusts do exist. They are called Joint Trusts and are suitable for couples whose relationships and finances have certain characteristics. This could be a joint trust (noting the reference to "our trust"), but there is no way to know without reviewing the trust instrument.

Regardless, @mamitey642 should seek professional guidance.