Tags
Beneficiary, Capital Gains, decedent, Designated Beneficiary, Dividend Income, Earned Income from Estate Assets, Estate Assets, Estate Income Tax, Fiduciary Income Tax Return, Final Return, Final Taxes, Interest Income, Rental Income, Reporting of Earned Income, Return of Capital, Special Dividend
An important task for an executor is to track the estate income. Earned income from the decedent’s assets doesn’t stop earning income at the date of death. Therefore, as detailed in the article Tax Returns and the Date of Death, if earned income from estate assets reaches an income threshold, taxes will result. So, for proper income reporting, the executor needs to track the estate income from the date of the death.