capital gain of a decedent

firenze5943 · Joined: 04 Feb 2008 Posts: 10

I am filling out the 2007 1040 for someone who passed away last Sept.
Decedent owned a mutual fund which paid
a capital gain in December. Do I prorate this capital gain or is the
estate responsible for paying taxes on the
entire amount? Thanks L

Archived from group: misc>taxes

Phil Marti · Joined: 25 Aug 2007 Posts: 2520

wrote:

>I am filling out the 2007 1040 for someone who passed away last Sept.
> Decedent owned a mutual fund which paid
> a capital gain in December. Do I prorate this capital gain or is the
> estate responsible for paying taxes on the
> entire amount?

It's all income to the estate.

--
Phil Marti
Clarksburg, MD

firenze5943 · Joined: 04 Feb 2008 Posts: 10

On Feb 17, 12:45 pm, "Phil Marti" wrote:
> wrote:
> >I am filling out the 2007 1040 for someone who passed away last Sept.
> > Decedent owned a mutual fund which paid
> > a capital gain in December. Do I prorate this capital gain or is the
> > estate responsible for paying taxes on the
> > entire amount?
>
> It's all income to the estate.
>
> --
> Phil Marti
> Clarksburg, MD

Thanks!