1099-Div for Trust for deceased (in 2021) spouse but it's in her SSN

Forum|Forum|3 years ago
March 6, 2023
2 replies
19 views

Spouse of 93-yr old client died in 2021. He brought me two 1099-Div reports for 2022 by Morgan Stanley in the wife's Trust but with her SSN. Is it up to me to get the Trust an EIN so I can file a trust return? Client is not helpful due to age.

ProSeries Professional

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BobKamman

Level 15

Follow the money. Does he have constructive receipt, or is it just sitting there in her account? It is up to the successor trustee to take care of this. You can't appoint yourself and you probably can't practice law in your state without a license.

If he received the money, put it on his return and figure out how to get him help this year. If he did not, follow your conscience. Another reason why trusts are a mistake for far too many people, who never find out because they're dead by the time it becomes obvious.

Skylane

Intuit Community Champion

You need the trust document. What assets does the trust own? Who are the beneficiaries?
Who are the heirs to her estate? Hopefully there’s an attorney handling the estate who can give you guidance.

If at first you don’t succeed…..find a workaround

G

GretaAuthor

Level 7

I will try to get these questions answered. But if the 1099-div reports went to the IRS in the SSN even though the recipient is "Trust of...", how do I file a trust return with that number? (Fortunately, the stock sales produced a small loss, and dividends aren't huge).

T

taxes96786

Level 8

You need a copy of the Trust and a copy of the 2021 returns to answer questions you may have. The Trustee needs to provide all of the documents you need to prepare the 2022 returns.

You can't change the SSN that shows on the 1099. You may be able to include a statement of adjustment for this item but, not until you have the information that clarifies everything.

G

GretaAuthor

Level 7

Grantor had a revocable trust in 2021, the year she died. The trust becomes irrevocable at death. In 2022. its income was reported to IRS under same SSN.

sjrcpa

Level 15

"In 2022. its income was reported to IRS under same SSN."

That's because the Successor Trustee never notified the Payor of her death and did not obtain an EIN for the trust.

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

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