Deceased Dad - How do I file

[dianamc1016]

Need some help.  Still waiting on 2019 Tax return from my dad's taxes.  However he was pronounced at 11:30am on 2020.  However at 12:01am Social Security deposited his monthly payment into his account and withheld taxes as well as his 403B account put money in his account.  With that being said,  I need to file his taxes.  The "estate"  with the state of NC is closed.  I am the sole beneficiary and have converted all of his IRA's to an inherited IRA in my name.    How do I go about filing his return for 2020 ... can I do it on Turbo tax and do I have to set up another account?  I am so confused.  I just wanted to be done with everything.  And now here we are.  HELP?!

[DaveF1006]

Yes, the good news is, you will be able to file his return.  Let me go over to basic steps on how to get started and then if you need additional guidance, you can always reach out to us as we will help you every step of the way.

1. Go to turbotax. When you reach the landing page, you will need to create an account to prepare his return. Just select create an account from the landing page. Once this is all done and the verification procedures are done, you will be asked to log into Turbo Tax using the username and password you created.
2. First screen says Tell us about you – we'll recommend the right tax solution.  Here is where you can pick out the things mentioned that apply to your account. You can also pick start for free.
3. Next page, enter the name of your father.  Record your address as an address of record.
4. Next question about last year's taxes, you can put other if you don't know.
5. Continue on.
6. Next screen asks about types of income. You can put social security and retirement account.
7. Then continue through the screen where it asks about other income or deductions.  if you don't have any of these, you may continue until you reach a screen that says You're off to a great start, XXXX.
8. Continue through until you reach a screen that asks you to sign now, save time later. Do not sign this right now. Indicate no thanks at the bottom of the page.
9. Now when you get to personal info, your father's name should already bee listed. Record his social security number.  What is important is that further down the page, there is an entry you will make that says I'm preparing this return for XXXX, who has passed away. This informs the IRS that you are filing the return for your father who is a decedent. This is why I had you not sign the return earlier.
10. As soon as you check this box, the program will ask you for the date of death.
11. Then it will ask martial status, address again, and this will complete the personal info section.
12. It will ask if you wish to switch to a paid version. I would recommend Turbo Tax plus because you will be able to get phone support plus future copies of your tax returns if you need them plus other benefits that are listed there. Just a recommendation though.
13. Then the program will ask about other income you may have missed.  You can continue through the sections if there aren't any.
14. Next page will give you an opportunity to enter the social security information and the 1099-R distribution from the 403-B retirement plan.
15. Since you converted his IRA's to your name, you do not need to report those here.

On behalf, of Turbo Tax, we are sorry for your loss. If you have any additional questions, please reach out for us. I think I gave you the basics to start. 

[pro88]

My wife passed, & the IRS said I had to fill out Form 1041 also. Go to the IRS web site to download it. It is somewhat confusing, & I suggest ordering the Business TT to do it. However, you may find it simpler to just call the phone # IRS provides for questions re the 1041, at  [phone number removed].

It's all part of what is called "Letters of Administration", obtainable through the Registar of Wills. They assign an EIN, which is what the IRS wants you to use with all filings. If you need help in determining your annual accounting year (tax year) my letter says go to www.irs.com and look up Publication538.

Personally I would hire a licensed tax preparer to do it for you. This would save you a lot of research, anxiety, worry, and get it out of the way quickly.