No a final decedent return only needs to be filed if he would have been required to file if alive. I am sorry for your loss.
The gross income, age, and filing status of a decedent generally determine whether a return must be filed. Gross income is all income received by an individual from any source in the form of money, goods, property, and services that is not tax-exempt. A return must be filed to obtain a refund if tax was withheld from salaries, wages, pensions, or annuities, or if estimated tax was paid, even if a return is not otherwise required to be filed.
No a final decedent return only needs to be filed if he would have been required to file if alive. I am sorry for your loss.
The gross income, age, and filing status of a decedent generally determine whether a return must be filed. Gross income is all income received by an individual from any source in the form of money, goods, property, and services that is not tax-exempt. A return must be filed to obtain a refund if tax was withheld from salaries, wages, pensions, or annuities, or if estimated tax was paid, even if a return is not otherwise required to be filed.
I forgot to mention the money in the bank (about 40,000) came from the sale of our mother's house. He received this in May and died in June!
Thank you for the clarification- Yes, the gain on the sale would be income that would have to be reported so you will need to file a return for him.
How do I figure out the value of the house when our mother died? We didn't sell it right away and made improvements before we did.
You will need the value on the date of your mother's death, add the cost of all the improvements and other expenses- this is the basis. The income is the amount you received minus the basis.
Does the market determine the value or what the county uses for taxing purposes? Thanks again.