Karen Lee Posted April 2, 2011 Report Posted April 2, 2011 Executor of Will cashed out mutuals to fund testamentary trusts. Since the transaction happened after death then the transaction is an estate transaction and should be on the estate return. Yes? Karen I am having trouble explaining this...sole and separate property of deceased and spouse having trouble with the concept..... Quote
grandmabee Posted April 2, 2011 Report Posted April 2, 2011 Executor of Will cashed out mutuals to fund testamentary trusts. Since the transaction happened after death then the transaction is an estate transaction and should be on the estate return. Yes? Karen I am having trouble explaining this...sole and separate property of deceased and spouse having trouble with the concept..... who was the owner of mutual funds? if only deceased and no beneficiary listed then they go to the estate and if estate has income of more than 600 needs to file the 1041 Quote
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