Dividends of decease

[nosillo2]

Dividends were divided on decease tax return and estate tax return in Turbotax manually.  The 1099 showed all dividends going to decease.  There is no where in Turbotax to put EIN number on decease tax return, and an estate tax return will be filed.  The payor of dividends will not divide dividends to respective account.  How should this be handled with IRS?

Ann

[AmyC]

The IRS understands the situation and is aware that providers don't break things up. As long as you enter the correct amount on each return, you are fine.

The IRS does have forms you can file, but those are really meant for passing income to another person. You could do a nominee for the dividends, General Instructions for Certain Information Returns. It is not expected in your position but if it makes you feel better, you could issue a 1099-DIV from the individual to the estate.

[nosillo2]

Are the stocks transferred  to beneficiaries included in K-1 distribution?  If so, is it included on Form 1041 or just added on K-1? Should a gain/loss be reflected?

On Schedule D Part III under 1 (beneficiaries) is blank should it be filled in with amounts reflected under Estate column so it can rollover to distributable income for schedule k-1  form?

Thanks