joanmcq

Ok. Thank you Abby. There's a bit of interest income.

I am doing the first/final estate income tax return. The house has already sold. The will divides up the house by three (nieces & nephew), and any remaining property 25% is split by 3 charities and the remaining 75% by the 3 nieces/nephew. Are the K1s a) 33.33% to each person or, b) 8.33 to each charity and 25% to each individual? Or do I c) put the loss carryover to the 3 individuals and then use b? I am fried and overthinking I think. I think its c.

They'll know about it when the properties are sold!

I have a new client that owes a bunch of bucks. When filling out the 2210 for whether they owe underpayment of estimated tax penalty for prior year withholding, do I put in the TOTAL TAX on line 24 or one of the other lines? They had a solar credit last year which took their tax way down. I think its the total tax on line 24, but am kinda fried.

There's a backlog with e-filed amended returns?

How big was the estate of the deceased spouse?

I've wondered this myself. Even if the ID requirements are state-specific, a passport is an approved form of ID.

For the $92k in sales that had no basis; is it just that the broker didn't have to report the basis or that they didn't have it? I've seen a few accounts this year where the broker doesn't have to report it, but the basis is available and on a 'realized gain/loss' sheet in the entire package.

I would give time for the amendment and then file. No sense in filing a false return.

I'm not sure; the paperwork I received was just the court document that said they did mail the will to the State of NJ Surrogate's Court and named the beneficiaries as the 3 people and 3 charities.

Was there any withholding on the withdrawals? I had a client that got scammed years ago and one of the very small bright lights was that there was 20% withholding.

I have another question for this return: the beneficiaries. I have 6 beneficiaries, 3 people and 3 charities. One of the people has since passed away too. Ugh. I do K1s for all of them? Just the people? Also, does a church have an EIN??

Ah, ok.

Thank you! I don't do very many trusts and haven't done an estate income tax return in probably 10 years. But I have a bunch of estate & trust returns this year. My client's parents are dying.

But don't they had two different investments, two different basises?