Decedent's final income tax returns.

Summary

---

From the Tax Adviser

Estate executors and administrators are responsible for filing a final income tax return by April 15 of the year following the death of an individual. Income earned up until death is subject to taxation, though some accrued benefits may be taxable to their respective beneficiaries. Deductions for medical expenses should be taken if the expenses exceed 7.5% of adjusted gross income. The administrator or executor will also have to decide whether a joint return is appropriate and how to report savings bonds.

See the full content of this document

Extract

---

Decedent's final income tax returns.

Practical planning tips for the will's executor or the estate's administrator. hen an individual dies, someone usually is selected to act as his or her personal representative, either as an executor (if named in th...

See the full content of this document

---