where to report income on my tax return from a closed estate that totals less than $600?

[MarkfromWA]

Hi,

    My Mom's estate has been closed for about 6 months.  We recently received a 2nd check from a security settlement in her name for $584.  I have been told that since the total amount received after the estate closed is less than $600.00, I distribute 50% to my sister and 50% to me as the will directed.  I was also told I need to report my half of the $584 on my tax filing as income, as does my sister.  If this check came in while the estate was still open, the $584 would have been taxed as part of my Mom's final 1041 I think.

My question is where do I report this income on my taxes?  I would guess either line 1h or 23 of my 1040 SR might be the place.

Thank You for your help,

Mark

[MaryK4 · Accepted solution]

You can add it to the tax return as Miscellaneous income.  This is Income in Respect to a Decedent- whoever has the right to receive the income must report it on their personal return if they received the distribution.  See Income in Respect of a Decedent.
 

Under Less Common Income select Miscellaneous Income, 1099-A, 1099-C

1. On the Let's Work on Any Miscellaneous Income page, select Start to the right of Other reportable income
2. On the Any Other Taxable Income? screen, select Yes
3. On the Other Taxable Income screen enter the description "IRD for Name last four SSN, or the name of the issuer" then the amount.  Select Continue
4. On the Other Miscellaneous Income Summary screen, select Done

[MarkfromWA]

Thank You MaryK4, 

Your timely answer was greatly appreciated!

Mark