1099-R and Estate 1041

TRC84 — Sat, 29 Mar 2025 20:53:24 GMT

My mother passed away in July 2024 with a small estate consisting of assets held in joint accounts, qualified annuities, a trust account (residence was in trust) and an individual account holding 41 shares of stock.

***All the qualified annuities were paid out to the beneficiaries directly and each beneficiary received the corresponding 1099-R.

***The joint accounts passed to the surviving owner upon death.

***The 41 shares of stock were sold in December. The company paid $45 of dividends since the date of death and the gain realized based on DOD basis was $360.

***There were no disbursements made in 2024 to the beneficiaries of trust

As successor trustee is a 1041 required? I believe since taxable income is below $600 it is not, but I am cautious because of the annuities possibly causing IRD.

Re: 1099-R and Estate 1041

DianeW777 — Sun, 30 Mar 2025 19:42:10 GMT

It depends. Based on the information above, it would seem a Form 1041 is may be required since the filing requirement is $600 of taxable income. If the gross proceeds were greater than $600, when adding the dividends, then a return is required to show the cost basis. If this is the case, all income from dividends, and stock sales would require you to file Form 1041, for the estate.

topic 1099-R and Estate 1041 in Retirement tax questions

1099-R and Estate 1041

Re: 1099-R and Estate 1041