 Y am I not eligible for the economic tax stimulus? |
| I had a son nov 2007. i'm 19 yrs old n i filed my 2006 and 2007 taxes together in februaury. My mother didn't claim me, and still yet I did not receive a letter saying I would be receiving ... |
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 When you file your taxes this year what are you spending your money on? |
| When you recieve your check this year what do you plan on spending it on this year?And how do you plan on spending it and why?... |
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 Should we we file joint or separate taxes? |
| I got married last April so this is all new to me. We live in California. My husband was a student last year and made $15,000. I made $57,500. I would like to know what is more advantageous as a ... |
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 What is the best way to file for taxes for a first time married couple? |
| My husband and I married in March of 2007? We have three children. I am wondering what way we can file and still get a good amount back. Last year I filed and received $5,000 and he filed and ... |
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 I didn't file taxes in 2003, is there a waiver so I don't have to pay the penalties? |
| I got a letter from IRS saying I owe money for not filing taxes in 2003. I was 19 and made 16k that year. I lived with my parents and I was a full time student but I wasn't claimed as a ... |
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 How do I report someone that I know is babysitting for money but not claiming the income? is this tax evasion |
| I have someone that I know is babysitting children, in her home and charging people money. I know that she does not claim this money on her taxes and has done this for over 10 years? There are ... |
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 Income tax question? |
| I have a serious question about my W2 forms I lost all my forms by accidently thowing them in the trash do I contact the IRS for help?... |
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 Tax debt relief HELP!!!? |
| My roommate is in debt $12,000 with the IRS and it just keeps stacking up, we barely make it by as is and have no money to pay a tax debt relief company to help, does anyone know of any that are free ... |
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 If I sold my house low then what i paid for, can i claim it for the tax? |
| As you all know, the house price is low. I am going to sell my house and it probably will lower than what i paid for. Can I claim it next year for tax?... |
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 Is Social Security funds about to run out soon? |
| i see on the news, read on papers hear from people that Social security will soon run out of funds. if this is true then why am i still paying into it if im not going to get anything back from it ... |
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 Filing electronically - still forms involved? |
I will buy tax software and file my federal returns electronically. I have heard that you still have forms to mail to the IRS even if you file electronically.
Can someone tell me if you still ... |
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 I recently lost my W2 tax forms and my job says it cannot help. Does anyone know how I can obtain a copy? |
| I would like to obtain it with no danger to my security. If you guys can help it would be great. Much appreciated.... |
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prissymama | My siblings and I shared an inheritance what tax form should we use? |
My siblings and I shared a pension when my father died but the company put the 1099 only to my sister is there a form to fill out so she isn't the only paying tax on the money? |
 |
 
Nusha
 |
First, I would be careful to check that the full amount is taxable. If your father had any basis in the pension then some of the amount may not be taxable and you cannot always rely on the 1099 to be right.
If you cannot get an amended 1099 or need to file right away,
I would have your sister put the full amount on her return so that it matches up with the 1099 and then put a second amount as negative saying something like "Received as Fiduciary" and put the name(s) of the other people and even their SSN's. The net amount should be only the amount she needs to pay tax on.
For Example:
Sister............. 1000
Rec'd as Fid....-500
.........................____
Taxable Amt......500 |
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wildcatfan
|
I do not know where you are at, so the laws may be different there, but I work for a county in Kansas and here they use a form simply called an "Inheritance Form." You can find out exactly what form they use in your state by calling your County Clerk's Office. I hope that helps. |
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non_apologetic_american
 |
Sounds like your sister was the executor of the estate. If the pension was in annuities, then it is taxable income for each of you siblings. I assume a annuities are involved because annuities are one of the few forms of inheritance that is taxable, regardless the estate size.
The executor should have had the company send the money and therefore the 1099 payable to the "Estate of ..." your dad, and then she would have done disbursements to each of you. Then, you would record it as regular income.
Your sister should seek to get the 1099 amended so its linked to the estate, not her personally. If she can't do that, she should record dispersments to each of you and keep that doc in a safe place should the IRS ever ask for it. |
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Shortstuff13
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Ask the lawyer who handled everything. He can help answer your question. (s) |
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Sammy D
 |
Go see a tax attorney immediately. |
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STEVEN F
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Short form, consult an accountant. Slightly longer form, your sister needs to give each of you a 1099 showing your share. |
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stick man
|
go to IRS.gov or call your dad's accountant to figure out how to split up the payment. |
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andy82687
|
I don't know.
Adopt me. I make sandwiches. |
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