1099-Misc issued in "Deceased Taxpayers name Rev Tru" and the Recipients # is in EIN format but matches the deceased's daughters SS". I this normal?
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1099-Misc issued to "Deceased TP's name Rev Tru" but
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Huh?
Sounds pretty "interesting" to me. (My daughter taught me that it's politer to call something "interesting" than to call it weird.)
Originally posted by AZ-Tax View Post1099-Misc issued in "Deceased Taxpayers name Rev Tru" and the Recipients # is in EIN format but matches the deceased's daughters SS". I this normal?Evan Appelman, EA
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It's normal when the daughter, as trustee, gives out her own SSN instead of understanding the need for a separate EIN. After all, the trust used the parent's SSN back when it was still a grantor trust.
But if you're really asking whether it's correct, probably not. I think it's theoretically possible that it's still a grantor trust (the grantor doesn't have to be the settlor), but highly unlikely.Last edited by Gary2; 09-24-2013, 07:53 PM.
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Agree with Gary2. It is not correct, unless by some significant stretch of the imagination, the Trust was issued an EIN which exactly matches trustee's SSN. If the trust is going to continue, get a new EIN immediately and give it to the bank/reporting institution. They do not have to correct or reissue a new form. Disregard the number on the 1099 and treat the interest as it should be; i.e, put it on the appropriate tax return.
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