Wife's cousin passed away and named her co-executor of the estate. She was compensated $10,000 for her time. I have no paperwork. How do I put that on my taxes?
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Wife's cousin passed away and named her co-executor of the estate. She was compensated $10,000 for her time. I have no paperwork. How do I put that on my taxes?
Wife's cousin passed away and named her co-executor of the estate. She was compensated $10,000 for her time. I have no paperwork. How do I put that on my taxes?
It is other income.
Click on Federal Taxes at
the top of the screen.
At the
bottom of Your Income box pick
the option in blue to help me add other
income, then jump to full list;
Scroll
down the page to the last section titled: Less common Income and click show more;
Select start or update next to the last topic titled Miscellaneous Income, 1099-A, 1099-C;
Scroll
down to the last option titled Other
reportable income and select start or
edit;
When it
asks, "Any other reportable income?" say yes then type in a description and the amount to
report it on your tax return.
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