No. You only need to file a state return in states where you have earned income as designated on your W-2 form or where you had self-employed income. Now, realize that you cannot recoup real estate taxes but can use them as a deduction on your federal income tax return without regard to which state the property is located.
Castle Real Estate is based in Chicago, Illinois and serves all of Illinois. They also have two locations outside of Chicago in Park Ridge and Northfield.
I can answer my own question now that I have spoken with a lawyer in Illinois. The answer is yes, I can be the executor of my parent's estate, even though I live out-of-state. Thanks for this forum.
Yes. Any land you purchase in another state will be controlled by the laws of that state.
An Illinois 1040 is a state income tax return. It includes income, taxes, exemptions just as a Federal Income tax return. An Illinois resident who files can also either receive a refund or have to pay.
Each state sets the requirements for the licensing of real estate agents, brokers and appraisers. Contact your state's Real Estate Commission to find out what the rules are and what you need to do to return to the business. http://realestatelicensedirect.com/real-estate-licensing-information-by-state/
Im webfiling with the state of Illinois. There is nowhere to enter a 1099MISC. Do I have to file it?
Yes, as long as you return in time for your court date.
Illinois is a state.
The executor has a responsibility to preserve the estate. They can remove items for appraisal and sale, but the assets still remain a part of the estate until properly distributed.
The tax return is an asset of his estate. The debts of the estate must be paid before any assets can be distributed to the heirs. Therefore, any remaining assets after the debts have been paid will be distributed according to the provisions in the will or according to state laws of intestacy if there was no will. You can check your state laws at the related question link provided below.
As far as Federal income taxes are concerned, inheritance is not taxed on your 1040 return. The Estate itself may be required to file an Estate Tax Return and possibly pay Estate Taxes depending on the total value of the estate in total and the line of inheritance. As far as State taxes in Texas, I am not familiar with that but I doubt very seriously if any income tax is due on a State basis either.
Maybe not a police officer but the Childrens Services may.