Anyone on Languish who does taxes for a living? In the US?

Started by Berkut, April 10, 2013, 10:35:50 AM

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Berkut

April 10, 2013, 10:35:50 AM
I don't know if anyone does. If they do, can they answer what I would think is a very simple question:

Do we need to file a tax return for a deceased relative who died in 2012 (early January 2012) if the net result of the return is certainly going to be that she owed no taxes?

Basically, my wife's mother passed away last year on January 5th. She has some trivial amount of income for 2012, like a few hundred dollars, which of course is not going to result in any tax liability.

Do we need to actually file a return for her anyway?
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MadImmortalMan

#1
April 10, 2013, 10:50:09 AM
Not a tax professional, but my guess is no. I think the income threshold to require filing is somewhere over $3000. I could be wrong.
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garbon

#2
April 10, 2013, 10:57:23 AM
Quote from: MadImmortalMan on April 10, 2013, 10:50:09 AM
Not a tax professional, but my guess is no. I think the income threshold to require filing is somewhere over $3000. I could be wrong.

Yeah I've always been under the same impression.
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Berkut

#3
April 10, 2013, 10:59:26 AM
I know you don't have to file, barring "special circumstances" if your income is less than $11,200, which of course it is - her only income is a single social security check for January, and that isn't taxable anyway.

The question is that she had some stock that was sold on her behalf - it is a small amount, less than $1000, but is that stock sale separately taxable?

I actually just got a response from a tax person - it is not, because it is income for her beneficiaries, since it was sold after she was deceased. So she has no reprtable income, much less none more than $11,200, so we don't have to file a return at all after all.
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The Brain

#4
April 10, 2013, 11:33:54 AM
Mart probably knows this stuff.
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Neil

#7
April 10, 2013, 03:02:54 PM
Dorsey4Guller might know.
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viper37

#8
April 10, 2013, 05:02:59 PM
Wasn't he an actuary too?
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#9
April 10, 2013, 05:30:23 PM
An accountant.  :lol:
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#10
April 10, 2013, 05:33:53 PM
Being lazy is bad; unless you still get what you want, then it's called "patience".
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HVC

#12
April 10, 2013, 05:55:54 PM
Quote from: DGuller on April 10, 2013, 05:51:53 PM
How original.  :rolleyes:
just because it's old and oft used doesn't mean it's not funny. Whose on first and what not.
Being lazy is bad; unless you still get what you want, then it's called "patience".
Hubris must be punished. Severely.
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