Estate question

[Pacun]

Husband died in 2008, taxes were always prepared jointly. For 2008 taxes were filed jointly. This year she is going to file as widower with 2 surviving children. No estate is required since the spouse will take over, correct?

Their assets are about one million. The mortgage interest on a rental condo reads "for the estate of XXXXX". Should I be concerned?

[Terry D EA]

It will all depend on how the estate was settled. You need to find out if the rental property legally transfered to the Spouse or if the Spouse was the beneficiary or if the rental property was jointly owned. Also, was the joint return filed as the final return of the deceased? I think you need to get alot more information here. Depending on the state the spouse may not just take over and there very well may have been a requirement for an estate return.

[OldJack]

>>The mortgage interest on a rental condo reads "for the estate of XXXXX". Should I be concerned?<<

Someone should be concerned. It might be that assets of the "estate" have not been distributed and income of such assets would possible require the filing of form 1041 to report the income.

[Pacun]

Husband and wife lived and worked in Virginia. House and Rental condominium are also in Virginia. Anyone from Virginia who has dealt with a similar situation?

[Gail in Virginia]

I am not sure what you are asking about. Was the rental condo in joint name? If it was not, if he owned it separately, did he have a will? If he did not have a will, did he have a previous marriage and did he have children from that previous marriage? I would be concerned to find out why the interest came with that designation. Whose SSN or EIN was on the 1098? I can't say that I have had a similar situation, but this is not enough information to have any opinion about anything.