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Filing a tax return for a deceased family member

Posted on 21. Oct, 2010

It seems difficult and challenging to file final income tax return for the year in which family member dies. The person dies referred to as “decedent”. His final income tax return comprises income and deductions through the date of death. It is the responsibility of decedent representative to file tax return.

Tax Year: Actually the final date of tax year ends on the April 15th. But the decedent’s tax year ends on the date of death.

Filing Status is an important factor, a joint return can be filed for a decedent and their present spouse.

Income in Respect of Decedent: IRD is excluded from the decedent’s final income tax return.

Medical Expenses: Medical costs paid from the decedent’s estate within one year of the day following the date of death can be deducted either on the final tax return or on the estate tax return.

No Personal Representative: Form 1310 and a copy of the death certificate must be attached to the final return in order to claim an income tax refund;

Final Tax Return: A final individual income tax return must be filed for the year of a death;

Accounting method: Cash method is the method of accounting to be used.

Self-Employment Income includes the distributive share all of his income recieved by a decedent, comprise of sole proprietorship, Partnership and S corporation must add in the decedent’s final income tax return.

Losses: it include all the losses like net operating losses and capital losses to a decedent cannot be carried over and used by the decedent’s estate.

Passive Losses: Any unused passive activity losses cannot deductible on the final income tax return expire unused at the date of death. There is a special rule for passive loss.

Credits: Tax credits that applied to the decedent before death can be declared on the final income tax return.

Return Signature: Deceased need to be written across the top of the decedent’s final income tax return.

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