My brother died in 2002. He sold life insurance for a living. After his death his estate was receiving a large amount of money every month that was earmarked for his children and his mother (my mother also) was in charge of distributing the money to his children. Our mother died in 2006 and I took over the distribution of the money until they reached adulthood.The children are now adults and the money no longer goes to them and was supposed to stop. The money has still come in but the children don't want it (it only amounted to 1,200 last year). I was told that I should keep it for the past management of the funds. I have reported it on my taxes but when I run a check Turbo Tax says I need info from my (deceased) brother schedule C. He has been dead for 20 years now, what do I do?
It depends. Whose name and social security number appear on Form 1099-MISC. If the Form 1099-MISC is in your brother's name with his social security number, you wouldn't report that on your return. Being that he has been gone for 20 years and does not have a filing requirement then the 1099-MISC would not be reported.
If the 1099-MISC came in your name and social security, it should be reported on your tax return.
Based on the comment you received from the TurboTax return, it does not need to be reported.