Legal Question in Elder Law in New York

Both my parents passed away last year. 9 months after my mom passed, i received a call from Prudential-my mom had life insurance policy that I was unaware of. Since my father was the beneficiary of that policy and he passed prior to my mom, the proceeds was made payable to my mom's estate. I just received a 1099-NT from Prudential, indicating 611.00 interest income. I think I have to file for 2017 for my mom since I am the executor. My question is what form do I file, the 1041 or and estate tax return. Are they the same form? If not, what is the estate tax return?

Asked on 1/26/18, 3:13 pm

1 Answer from Attorneys

Richard Bryan Richard Bryan Attorney PC

Technically form 1041 has to be filed for the estate; the income tax return for the estate. However I think if you added it into mom's personal return the IRS won't give you a hard time. The tax on $611 is peanuts anyway. Whether or not an estate tax return has to be filed can't be answered since we don't know the size of mom's estate.

Please accept my condolences for the loss of your parents.

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Answered on 1/26/18, 3:19 pm

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