Follow the instructions here to handle the 1099-B.
If you are saying you have a 1099-B for a bond sale that occurred after your mother's death, then you can enter that into your tax return or the beneficiaries return. You can take simple physical steps to nominee the 1099-B if you like (see instructions below) or you can just keep it with the return documents should you need it later.
Nominee Returns. This is how the IRS knows what you are doing in advance. It does take them quite some time to actually get the documents with the tax 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 your mother as the payer and the other owner, as the recipient. On Form 1096, list your mother 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.
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:
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
