My Mother passed away in September. In filling out the Turbo Tax data form do I allocate 1099-INT interest or will the software do it for me?
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My Mother passed away in September. In filling out the Turbo Tax data form do I allocate 1099-INT interest or will the software do it for me?

 
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Level 15

My Mother passed away in September. In filling out the Turbo Tax data form do I allocate 1099-INT interest or will the software do it for me?

You will need to allocate the interest as the software will not do this.

So just take the days alive/365 X Interest Income = amount that needs to be reported on final 1040.

The remainder would go on a 1041 Estate return if one is required to be filed, or if trasfered on death to the new owner's return.

Sorry for your loss

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