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FTPhil
Level 4
March 18, 2025

1099-B received for taxpayer that died 7 years ago with gross proceeds of $692. Should a new 1041 be filed?

  • March 18, 2025
  • 1 reply
  • 3 views
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1 reply

sjrcpa
sjrcpa
Level 15
March 18, 2025

Technically, yes.

Practically - who got the money? Tell them to report the sale on their return. If IRS ever inquires, tell them that was done.

The more I know the more I don’t know.
    rbynaker
    rbynaker
    Level 13
    March 18, 2025
    @sjrcpa wrote:

    Technically, yes.

    Practically - who got the money? Tell them to report the sale on their return. If IRS ever inquires, tell them that was done.

    After 7 years, my guess is the state unclaimed property office got the money. 🙂

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