Betsy1
Level 2
03-20-2024
04:34 PM
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I am preparing an Estate (Form 1041) return with comes with Form 1099-B with only Box 1D completed which does not provide adequate information to report on Schedule D. Also, Form 1099-R does not even show up as a possible form to report on a 1041. Anyone else have a similar challenge?
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BobKamman
Level 15
03-20-2024
04:46 PM
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It's not a challenge, it's simple. Enter the annuity on Line 8 as other income. For 1099-B: The broker hasn't been given enough information to determine stepped-up basis, so only proceeds are reported. Ask your client for the date-of-death value.
