NASSAUSUFFOLK

This message has been cross posted to the following Discussions: NASSAUSUFFOLK and Federal Tax .
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1040 client (single) passed away in 2014.  He was a retired salesman and receiving a payout from his employer on a 1099-MISC in Box 7, Non-employee compensation, which was subject to SE Tax.  monies continued to be paid in 2014 and will continue for about 2 more years.  On the Trust return, how do you report this?  Should it not be subject to SE tax, either on the Trust return or to the beneficiaries through the K-1s? 

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Neil Fishman CPA
FISHMAN ASSOCIATES CPAs PA
Boynton Beach FL
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Neil,

 

This is  IRD and needs to be treated as such.

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Stuart Lang BA
STUART G. LANG, CPA PC
Baldwin NY
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Original Message:
Sent: 04-03-2015 07:31
From: Neil Fishman
Subject: 1099-misc on trust return

This message has been cross posted to the following Discussions: NASSAUSUFFOLK and Federal Tax .
-------------------------------------------
1040 client (single) passed away in 2014.  He was a retired salesman and receiving a payout from his employer on a 1099-MISC in Box 7, Non-employee compensation, which was subject to SE Tax.  monies continued to be paid in 2014 and will continue for about 2 more years.  On the Trust return, how do you report this?  Should it not be subject to SE tax, either on the Trust return or to the beneficiaries through the K-1s? 

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Neil Fishman CPA
FISHMAN ASSOCIATES CPAs PA
Boynton Beach FL
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Neil: It is other income and there is no se to anyone. As it IRD, if the decedent had a taxable estate, the beneficiaries might be eligible for a deduction to the extent of the estate tax paid on the IRD. ------------------------------ Robert Brown ROBERT N. BROWN, CPA Jericho NY ------------------------------
Original Message: Sent: 04-03-2015 07:31 From: Neil Fishman Subject: 1099-misc on trust return This message has been cross posted to the following Discussions: NASSAUSUFFOLK and Federal Tax . ------------------------------------------- 1040 client (single) passed away in 2014. He was a retired salesman and receiving a payout from his employer on a 1099-MISC in Box 7, Non-employee compensation, which was subject to SE Tax. monies continued to be paid in 2014 and will continue for about 2 more years. On the Trust return, how do you report this? Should it not be subject to SE tax, either on the Trust return or to the beneficiaries through the K-1s? ------------------------------ Neil Fishman CPA FISHMAN ASSOCIATES CPAs PA Boynton Beach FL ------------------------------