Spouse died in 2008

[Ricardo]

Survivor -wife- rec'd 1099 Int in spouse's name and ss# for 2009 - did not change ownership.
How to handle this on sposes return for 2009 - or not ?

Thanx

Regards - Ricardo

[FEDUKE404]

Treat as survivor income if possible

Survivor - wife- rec'd 1099 Int in spouse's name and ss# for 2009 - did not change ownership.
How to handle this on sposes return for 2009 - or not ?

Thanx

Regards - Ricardo

Assuming the spouse inherited the account, claim it as 2009 income and straighten out the underlying account info ASAP.

If that does not work, technically the income may belong to the estate - which could open a serious can of worms.

FE

[taxcraft]

Late 1099

I saw this suggestion on another forum.
File a "single" return for the deceased husband and include the income. Wife was executor or representative, right? She can sign it.

[JG EA]

That won't work. The deceased husband was not single. It's MFJ or MFS. True he may be post mortem in a single state but the IRS goes by the last time he was alive.

[taxea]

neither will work the 1099 needs to be corrected and reissued either with husband's SS for 2008 or with wife's SS for 2009

[Burke]

I saw this suggestion on another forum.
File a "single" return for the deceased husband and include the income. Wife was executor or representative, right? She can sign it.

IRS will not accept a tax return for a decedent for any year after the date of death. The interest goes on the spouse's return for 2009.

[Burke]

neither will work the 1099 needs to be corrected and reissued either with husband's SS for 2008 or with wife's SS for 2009

Not necessary. Just put it on the wife's return. That's it.

[Ricardo]

If I put his 1099 on spouses return with his SS# , it will surely be rejected.

I'm thinking of no action and letting them "come and get it"

I'ts only $240.00. Rather small potatoes!?

I thank you all for the replies.

Regards - Ricardo

[spencer]

I agree with

Burke. Just put it on the wife's return. No problem

[Burke]

If I put his 1099 on spouses return with his SS# , it will surely be rejected. I'm thinking of no action and letting them "come and get it"
I'ts only $240.00. Rather small potatoes!?
I thank you all for the replies.Regards - Ricardo

What makes you think they are going to reject it? They don't quibble with income reported that doesn't match. Only omitted income that doesn't show up and should. Income is reported all the time that does not show up in their computers. Trust me on this one. If you knowingly omit it, then it's you that's not in compliance.

[FEDUKE404]

Be careful of "no action"

If I put his 1099 on spouses return with his SS# , it will surely be rejected.

I'm thinking of no action and letting them "come and get it"

I'ts only $240.00. Rather small potatoes!?

I thank you all for the replies.

Regards - Ricardo

I seriously doubt if the IRS would reject income appearing on a Schedule B.

(Do they even see the Form 1099-INT information that might be rattling around in your software??)

The "come and get it" approach you suggest may also be a bit troublesome, especially considering current IRS preparer guidelines, regardless of the amount involved. I think a reasonable person would conclude the income does belong to the surviving spouse, and at some point will/would end up there.

And conversely, if the account is still in the name of (only) the deceased spouse, no one but the executor could have access to those funds in the first place. (You never mentioned if the account was JTWROS or POD.)

FE