I need to transfer a 1099B from a decedent return to a Trust

I am using TT Deluxe to file a Decedent return, and TT Business to file the associated Trust return. I have a 1099B against the decedent's SSN that has a sell date after their death (Due to their grantor trust where all gains were taxed in trustors 1041)

How do I get this into the Trust and record it properly using Deluxe/Business? QEF does not handle 1099B.

346

1 Best answer

Level 15

Feb 26, 2021 8:31:56 AM

On the decedent's final return, indicate that the decedent received those proceeds as nominee for the trust.

TurboTax now handles this scenario with an N code on Form 8949.

Level 15

Feb 26, 2021 8:31:56 AM

On the decedent's final return, indicate that the decedent received those proceeds as nominee for the trust.

TurboTax now handles this scenario with an N code on Form 8949.

Level 2

Feb 26, 2021 9:01:56 AM

Thanks. Not sure if I fully understand, but I will give it a shot. If it moves the liability from the decedent to the trust and keeps the IRS happy, all is good!

Level 2

Mar 1, 2021 7:09:47 AM

Hey, how about that. TT even filled in the 8949 when I checked the box in the interview that said the gain belonged to someone else.

Thanks!

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I need to transfer a 1099B from a decedent return to a Trust