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dalsonn10
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Form 1099-C

Hello, My Father passed away last year in 2023 with no assets. A Creditor said this year they will issue a 1099-C for 2024. Since I am filing my Father's Final Return for 2023 will I have to complete a Form 1041 for 2024? Also, on the 2023 tax return he has a refund which Turbo Tax recommended the Form 1310. Since no assets, there was no probate or court appointed representative.  On Part II, Line 3 of the Form 1310, it asks, "As the person claiming the refund for the decedent's estate, will you "pay out" the refund according to the laws of the state..." Does "pay out" mean to pay creditors or beneficiaries?

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1 Reply

Form 1099-C

A 1099-C is not a payout to a creditor.

it means the creditor is no longer seeking collection.

 

 

IRS can't go after your father since he is no longer with us.

Besides, there are no assets.

any refund applies first to funeral costs, then medical costs.

 

@dalsonn10 

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