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posted Dec 13, 2022 3:01:29 AM

Deceased Broker - 1099 Question

Hi Everyone - I'm trying to wrap up my fathers estate/business. My father was an insurance broker who had commissions paid to both his ssn# and ein#. He passed away in 2018 and still had some small insurance commission checks coming in (some over the course of a year probably would generate a 1099). We never formally notified the companies the checks came from, rather just stopped depositing and we believe they stopped sending them (we sold the house and did a forwarding address but who know if it got lost in translation). We're trying to wrap up everything with his estate/business this year and we're concerned that even though we haven't seen any checks or 1099s in about 2-3 years that a company/s could still issue a 1099. I've requested wage transcripts from the IRS but they will not send them since he was the only one on the business.

Any input would be greatly appreciated.

 

Thank you,

Eric

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1 Replies
Level 15
Dec 13, 2022 6:04:24 AM

I don't think there's anything to do.

If you do get another check (unlikely) ----

IRS Pub 559 --

"If the decedent accounted for income under the cash method, only those items actually or constructively received before death are included on the final return.

Income in Respect of a Decedent

All income the decedent would have received had death not occurred that was not properly includible on the final return, discussed earlier, is income in respect of a decedent.

How To Report

Income in respect of a decedent must be included in the income of one of the following.

  • The decedent's estate, if the estate receives it.
  • The beneficiary, if the right to income is passed directly to the beneficiary and the beneficiary receives it.
  • Any person to whom the estate properly distributes the right to receive it."