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Is the money transferred into your bank from your fathers in trust account after he passed away taxable even though the bank did not supply a tax form?
The trustee of the trust or the estate administrator should be able to help you with the information that you need to report any of the amounts that would be taxable income to you.
For 2009 tax year you may not receive the necessary tax information forms until after January.
It is possible that you may receive schedule K-1 with some information that you would use to report any amounts that would taxable income to you on your 1040 tax form.
What else can I help you with?
Is a joint savings account considered taxable as part of an estate?
My mother and i have a joint savings account my mother passed away does the money in the account become part of the estate
What does it mean when an account is having a debit balance?
It means you owe money, you passed your limit.
What is journal entry passed on payment by cheque to vendor?
[Debit] Accounts payable xxxx [Credit] bank account xxxx
Would you file income taxes on your deceased spouse?
If they had taxable income this year, they will need to have their taxes filed. You being the spouse are probably the best to do it. I am in a similar situation, my grandmother and father passed away this year. I was the caretaker for both of them. I will be filing taxes for both of them. I am able to do it for both because I am the administrator of both estates. If your spouse passed away in 2010, the best thing to do is file as you guys normally did.
Why you made depreciation schedule?
First up all depreciation shedule is prepared as per statutory requirement. Secondly with reference to the depreciation shedule journal entry has to be passed by debiting the depreciation account and crediting the concerned fixed assets account.
Is a joint savings account considered taxable as part of an estate?
My mother and i have a joint savings account my mother passed away does the money in the account become part of the estate
In what year did Social Security Benefits and Unemployment benefits become taxable?
Social security benefits became taxable income in the year of 1984.
What happens to the fathers mt DNA?
It does not get passed down to the offspring. Only that of the mother does.
What did ancient polynesian people learn?
most learned chants form fathers and passed it on to their sons and their sons passed it on their sons etc.;
What do you need to do before you ask someone to be wed?
Acquire vibrant plumage and commence the sacred mating ritual passed down from our fathers and their fathers before them.
Who was responsible for getting the constitution passed?
The founding fathers (John Adams, George Washington, etc).
Fathers gained power through war and and usually passed their power on to their sons?
Marriage
Fathers gained power through war and what and usually passed their power on to their sons?
Marriage
Fathers gained power through war and and usually passed their power on to their sons.?
Marriage
Fathers gained power through war and 'what' and usually passed their power on to their sons?
Marriage
My father passed away years ago, but we never transferred assets out of his account or closed his trust. What must I do to close the trust after I transfer the funds out of it?
If you or your lawyer is the trustee, then you need to get the trust account banker to close the account, obtain written confirmation that it has been closed, and then destroy all associated checks after transferring the money. If someone else is the trustee, it will be up to them to close it.
My mother was on her fathers will and they both passed away my mother and grandfather. who does her share go to?
Your Father gets it.
