Death of parent

[Ga39]

I am the executrix of my mother's Will.  She has two accounts with stocks/bonds.  For one, we received 1099 Rs individually (to heirs).  However the other listed me as beneficiary and I received a 1099R for the entire amount of the account, although I split it with the other heir.  The 1099 R lists the recipient as the estate of my mother c/o me.  First.  Do I need to report this on her individual taxes?  OR do I need to file a tax for for the estate and go from there?  I assume I only need to report my portion of the estate on my own personal taxes but the 1099R shows the full amount.  I use Turbotax but should I hire a professional to make sure this is properly reported?

[dmertz · Accepted solution]

The Forms 1099-R that you received report income that is entirely taxable to you.  Only the amount reported on the Form 1099-R issued to the other beneficiary is taxable to the other beneficiary.  Whatever amount you gave to the other person from the amounts paid to you is a gift from you to the other person, potentially reportable on a Form 709 Gift tax return depending on the amount.

Because the estate was not the beneficiary on either of these accounts, the will and the estate have nothing to do with the handling of these distributions.