Legal Question in Tax Law in Maryland

I have inherited stock from my mother. I am in the process of transferring ownership and it states I need and EIN. I am not an employer or even sole proprietor of a business.. I will be reporting stock revenues on my personal income tax. Will having an EIN for a non existent company mess up my tax reporting????


Asked on 2/05/10, 8:15 am

1 Answer from Attorneys

Cedulie Laumann Arden Law Firm, LLC

Hello. Thanks for your question. If the stock is a probate asset (such as if it was titled in your mom's name alone when she died), then it will pass through the estate first, then get doled out of the estate to whomever inherits under the will. An estate needs an EIN - it has nothing to do with any business entity and nothing to do with your personal taxes. It is not clear from your post whether you opened up an estate already or if you were issued letters as the personal representative. You may want to consult with an estate attorney if you have not already done so. While not legal advice, I hope this post helps.

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Answered on 2/19/10, 1:45 pm


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