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Re 1099-INT, 1099-DIV etc. How should I properly enter or describe Payer's information for INT, DIV, etc earned from inheritance/decedent when no 1099 is received? thx

 
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DianeW777
Expert Alumni

Re 1099-INT, 1099-DIV etc. How should I properly enter or describe Payer's information for INT, DIV, etc earned from inheritance/decedent when no 1099 is received? thx

You can simply enter the bank name or you can use the 'Nominee' description you mention, then enter the amount of interest and/or dividends into your TurboTax return. This will be appropriate for the IRS.

@C-Starr 

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4 Replies
Vanessa A
Employee Tax Expert

Re 1099-INT, 1099-DIV etc. How should I properly enter or describe Payer's information for INT, DIV, etc earned from inheritance/decedent when no 1099 is received? thx

You will enter it the same way you would if you would have received a 1099.

 

To do this you will select the following:

 

  • Federal
  • Income
  • Show more next to Interest and Dividends
  • Start next to interest on 1099-INT
  • then you will go back and choose start next to dividends

You will just enter the description and amount received. 

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Re 1099-INT, 1099-DIV etc. How should I properly enter or describe Payer's information for INT, DIV, etc earned from inheritance/decedent when no 1099 is received? thx

What Payer Name or ID to enter when no 1099 received about earnings from inherited accounts' INT, DIV, etc after person died.  Is "Nominee from XXX's social sec number" or something else appropriate for IRS?  Thanks.

DianeW777
Expert Alumni

Re 1099-INT, 1099-DIV etc. How should I properly enter or describe Payer's information for INT, DIV, etc earned from inheritance/decedent when no 1099 is received? thx

You can simply enter the bank name or you can use the 'Nominee' description you mention, then enter the amount of interest and/or dividends into your TurboTax return. This will be appropriate for the IRS.

@C-Starr 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Re 1099-INT, 1099-DIV etc. How should I properly enter or describe Payer's information for INT, DIV, etc earned from inheritance/decedent when no 1099 is received? thx

Hello Dianne W777,

Thank you for the prompt, helpful reply.

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