Estate 1099-INT filing for deceased in 2017 refunding stimulus of $1400

[lmdmcr]

Attempting to file a 1099-INT for my mother's estate when she died in 2017; but, Turbo Tax is attempting to give a refund for a third stimulus amount of $1,400. Why? She died in 2017 and this is an Estate filing with and EIN # rather than SS#. How do I get around this?

[VolvoGirl]

Are you using the Desktop program for 2017?  Or what?  Online is only for 2021 personal returns.   Are you trying to do the Estate return?

You need Turbo Tax Business.

The small business program (TT Business) is for 1120 Corporation, 1120S Corp, 1065 Partnership or 1041 Estate/Trust returns and will not do your personal 1040 return.   It  is a separate program from the Desktop Home & Business program or the Online Self Employed version.

Turbo Tax Business  is not available to do online or on a Mac.  You can buy the Window's version here.  And you can have both TT Business and TT Home & Business (or any personal version) installed on  your computer at the same time.

https://turbotax.intuit.com/small-business-taxes

[lmdmcr]

$170 to purchase TT Business for a deceased person's tax return sound ridiculous when mother died in 2017 & I have to ONLY report 1099INT reported in 2021 that was not previously known.  Can I use TT Home/Business to accomplish same thing?

[DianeW777]

TurboTax Home & Business CD/Download cannot be used to prepare an estate return.  The decedent is no longer allowed to use Form 1040 after the year of death. However, if the estate has been finalized before 2021 and a Form 1099-INT has been issued in the name/EIN of the estate, you can nominee that interest to the beneficiary.  This would allow the beneficiary to report the interest on their individual tax return.

Nominee returns. 

Generally, if you receive a Form 1099 for amounts that actually belong to another person or entity, you are considered a nominee recipient. You must file a Form 1099 with the IRS (the same type of Form 1099 you received).  You must also furnish a Form 1099 to each of the other owners. 

File the new Form 1099 with Form 1096 (this is a transmittal for the 1099) by mailing to the Internal Revenue Service Center for your area. (Provided on the Form 1096)

• On each new Form 1099, list the estate as the payer and the beneficiary, as the recipient. On Form 1096, list the estate as the nominee filer, not the original payer.  The nominee is responsible for filing the subsequent Forms 1099 to show the amount allocable to each owner. 

If you choose this one here is the TurboTax program for creating 1099s.

The forms filed with the IRS should be the red copy so if you don't have a color printer, go to the IRS website and order the forms here: 

• Form 1096-Transmittal
• Form 1099-INT