Legal Question in Wills and Trusts in New Jersey
As an executor of an estate, how do you file taxes? Under the decedent's name and ssn? or as an estate with an ein?
3 Answers from Attorneys
Have you probated the will to open the estate? There are other tasks you must complete to administer the estate. The estate should have its own new taxpayer number, since the decedent's social security number belonged only to the decedent, not her/his estate. Decedent's last income tax return and taxes [for the year in which decedent died], as well as inheritance / state estate taxes and federal estate taxes, if applicable, must all be paid.
If you have questions about the estate administration, you should engage the services of an estates lawyer to advise and assist you.
This response is not legal advice, since I do not have all of the information that would be required, and I do not have a representation agreement with you.
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It depends if the income was earned pre-death or post death. Pre-death income goes on the final 1040, and post-death income goes on the estate 1041.
As you can see from the other lawyers' answers, this is complicated stuff.
You will be better off with a lawyer's help. Give me a call, and we can talk it over. No charge for the call.
Robert Davies, Attorney, 201 820 3460