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Level 1
December 7, 2019
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How to report 1099-C for deceased client? Client died in 2016; 1099-C issued for 2018.

  • December 7, 2019
  • 2 replies
  • 20 views

Final 1040 filed in 2017, but trust is still open.  Can the income be reported in the trust's1041?

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Best answer by sjrcpa

It is income to the estate.

2 replies

sjrcpa
sjrcpaAnswer
Level 15
December 7, 2019

It is income to the estate.

The more I know the more I don’t know.
George4Tacks
Level 15
December 7, 2019

You might find https://www.taxcpe.com/blogs/news/cancellation-of-debt-of-a-decedent of interest. Yes. report as other income on 1041.

Answers are easy. Questions are hard!