Tag Archives: Estate

Estate vs Estate

Today TaxMama® hears from Kelly in the TaxQuips Forum, who is confused. Let me summarize. “Kelly’s father died, leaving the house to the children. But the value is less than $5 million, so no estate tax return needs to be filed. Why do they need to file anything to report the sale of the property?”

Taxes After Death

Today TaxMama® hears from Darlene in the TaxQuips Forum with this question. “A couple has filed married filing separately for at least 4 years. About 3 years ago he went into a nursing home. She continue to file married filing separately, preparing his return for him also. The nursing home took just about all his […]

2010 Estate Reporting Form 8939 is Due Nov. 15

Courtesy of  IRS [TaxMama note: this applies deaths that took place in 2010. Even if you don’t think your family has an estate – PAY ATTENTION! If you don’t file the paperwork to establish the value of home, stocks or other assets owned by the person who died, you may end up with a tax […]

Deeded in Life or Death

Today TaxMama hears from Mary in the TaxQuips Forum, who needs clarification. “My mother-in-law put her house in my husband’s name with a quitclaim Deed, which states it would be hers until her death; and he could not sell it as long as she was alive.  Now she has passed away and the house is […]

NJ Executors Fee

Today TaxMama hears from Barbara in New Jersey, who says. “I am the executor of my mother’s estate in NJ. I would like to take the executor’s fee that I am entitled to. I am trying to find out if her home that was just sold is considered an estate asset (that I can include […]