entertainment residuals from dead relatives estate

[jcsg]

As the beneficiary I receive residual payments from a dead relatives movie and television appearances. Do I declare this as income for Federal Taxes? Thanks for any info.

[Anonymous_]

Have you received or are you expecting to receive a tax reporting statement? 

Is the estate receiving the income and distributing it to you?

[jcsg]

Thanks for getting back!

I get end of year tax W-2s listed as "beneficiary"

[Anonymous_]

Has this happened previously? Is this the first year you received a W-2?

[Critter-3]

A W-2 would be highly unlikely ... a 1099-Misc or a K-1 form would be much more probable so exactly which form are you getting ?    Are you getting the payments directly or is the payments being passed thru from the estate? 

[jcsg]

Apologies it has to be a 1099-misc. The checks are cut by the media companies. I am listed beneficiary with the relatives name listed on the check as decedent. Arranged through AFTRA.

I've received residuals in the past and claimed them as income for Federal taxes but have been advised to look into whether I should. 

[Anonymous_]

Presumably there would be a figure in Box 3. 

You could consult with a local tax professional, but odds are that this is taxable income (miscellaneous income not subject to self-employment tax).