File return?

[L.S.]

executor of closed estate received letter from IRS re: 2008 form 1040. individual was under income limits for that year so did not file return, but had $73,000 on a 1099B that with the cost basis would have shown a loss. do we now have to file 2008 return? if so, who would sign this?

thanks,

Should a return always be filed in a case like this - even though under income limitations?

[Tax Prep by Deb]

executor of closed estate received letter from IRS re: 2008 form 1040. individual was under income limits for that year so did not file return, but had $73,000 on a 1099B that with the cost basis would have shown a loss. do we now have to file 2008 return? if so, who would sign this?

thanks,

Should a return always be filed in a case like this - even though under income limitations?

The 1099B put him or her way above income limits for filing. IRS has no way of knowing the basis, that is why a return should have been filed. At least that would be my thinking. As to who should file the return, again I would think it would be whoever received the letter, in this case the executor. But then again I could be wrong!

Deb!

[joanmcq]

Answer the letter.