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Level 3
April 11, 2021
Solved

Trust Tax ID for Estate

  • April 11, 2021
  • 1 reply
  • 14 views

Hi dear all,

I need some help for an Estate issue.

I have a client whose father pass away last year. before he passed away, he opened two accounts in two different banks, under the same Trust. However, on the 1099, one of the account has taxpayer ID as the father's SSN, the other one has the Trust tax ID. 

since the father passed away in the middle of the year, he still need to file his personal income. so my question is "the 1099 with father's SSN as tax ID, but under the trust name, is the income belongs to the trust or the father's personal income?"

Thanks ahead for your help

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Best answer by sjrcpa

Assuming it was a grantor trust, for the account with SSN, income up til date of death goes on father's 1040. After death income goes on trust 1041.

1 reply

sjrcpa
sjrcpaAnswer
Level 15
April 11, 2021

Assuming it was a grantor trust, for the account with SSN, income up til date of death goes on father's 1040. After death income goes on trust 1041.

The more I know the more I don’t know.
TaxStyleAuthor
Level 3
April 11, 2021

Thank you

sjrcpa
Level 15
April 11, 2021

You're welcome.

The more I know the more I don’t know.