My mother passed away on Dec. 23, 2021. I filed her federal and state income taxes in 2022. In March, 2022, she received a dividend on some stocks she owned, before these stocks had been reissued to her heirs. That was the only income she received in 2022. I thought I should file a 2022 return documenting this income. Turbotax will not allow me to enter 12/23/2021 as the date of her death, insisting the date must be in 2022.
Do I need to file a 2022 tax return in order to account for the dividend ($1,300) she received in that tax year? If so, how do I get around the problem of answering the data-of-death question?
Thanks.
If you received 2022 dividend income in your mother's name, the income is properly reported on a 2022 IRS form 1041 estate income tax return.
If there is no IRS form 1041 estate income tax return, the dividend income may be reported by the beneficiaries. Two equal beneficiaries would each report the income and enter an adjustment to the income to reflect only your taxable portion. (Each beneficiary may report one half.)
Follow these steps:
If you received 2022 dividend income in your mother's name, the income is properly reported on a 2022 IRS form 1041 estate income tax return.
If there is no IRS form 1041 estate income tax return, the dividend income may be reported by the beneficiaries. Two equal beneficiaries would each report the income and enter an adjustment to the income to reflect only your taxable portion. (Each beneficiary may report one half.)
Follow these steps: