NT / Do People Just Believe What They Want To?

[joanmcq]

I think the phrase, estate or OTHER final reciepient means that it is taxed to the final recipient. If it is the estate, meaning the ESTATE cashed the bonds, then taxed to the estate. On a 1041, as income to the estate. But Sonny is the final recipient, cashed the bonds, and therefore pays the tax. at a lower rate, I might add.

[RitaB]

I think the phrase, estate or OTHER final reciepient means that it is taxed to the final recipient. If it is the estate, meaning the ESTATE cashed the bonds, then taxed to the estate. On a 1041, as income to the estate. But Sonny is the final recipient, cashed the bonds, and therefore pays the tax. at a lower rate, I might add.

Yeh, that dummy whammy part is over my head. Especially at this time of day. I'll pass on that one.

Sonny paid all right! Funny, he just came in today to pick up 2007 return. Only owed $2852 and that with a gain on sale of dad's house. He was pretty happy this year.