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Old 01-31-2009, 07:54 AM   #21
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Have all of mine now that TD Ameritrade made theirs available online yesterday. I even finished my fed and state tax returns last night......
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Old 02-05-2009, 09:32 AM   #22
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Quote:
Originally Posted by RustyShackleford View Post
Damn, were we separated at birth or something ...

I have unclaimed property of similar amount from "the state" (from a
previous employer), and I too wonder what (if any) tax liability this
implies and/or what paperwork i may get.

You DO know about the K-1 you should receive (from the estate) for each
year the estate received income, right ? In my case it's my sister, but
yes, I need to check with her and make sure she successfully turned off
the interest on whatever remained at the beginning of 2008 before the
estate closed. However, these K-1's don't seem to mention the actual
distributions to the heirs, and as best I can tell, if it's not on the K-1, the
IRS doesn't care. I guess big chunks of money showing up in someone's
account from an estate ain't all that unusual. And I think drug kingpins
prefer cash ...
Rusty, the State of Louisiana Unclaimed Property office sent me 1099's for my unclaimed property (apparently the remnants of some old mutual fund shares which I forgot about but then the mutual fund company disbanded in the Enron mess). I just received the 1099's yesterday. What a relief. Thought I'd alert you to that.

Thanks for the "heads up" on the K-1 forms. I haven't received anything at all and will ask my brother/executor what gives. All parts of the estate were investments, which declined in value from the time of her death until all distributions were made, so maybe they are not necessary. I am really glad to hear that they aren't going to think I'm a drug kingpin after all!!
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Old 02-05-2009, 12:21 PM   #23
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All parts of the estate were investments, which declined in value from the time of her death until all distributions were made, so maybe they are not necessary.
Hmm, I wonder if you should be able to have a capital loss forwarded
to you on the K-1 then, since (as you probably know) the basis resets
to the value at the date of the decedents death.

P.S. Sorry for your loss. As the nice Navy chaplain said at my Mom's
burial, just because someone dies doesn't mean our relationship with
them ends.
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Old 02-05-2009, 03:23 PM   #24
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Originally Posted by RustyShackleford View Post
Hmm, I wonder if you should be able to have a capital loss forwarded
to you on the K-1 then, since (as you probably know) the basis resets
to the value at the date of the decedents death.
Good idea. I'll ask about that. I think that my brother managed to put most of it into money market by March of 2008, but the estate lost some between Oct 2007 and that time.

Quote:
Originally Posted by RustyShackleford View Post
P.S. Sorry for your loss. As the nice Navy chaplain said at my Mom's
burial, just because someone dies doesn't mean our relationship with
them ends.
Thanks. It's so strange - - whenever I want to see my mother, I look in the mirror and there she is, in me. And so often I find myself saying things in ways that sound like her.

Sorry for your loss, as well. It must have been quite unnerving to lose a sister. My mother was almost 98 years old, so we knew it was time.
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Old 02-05-2009, 04:34 PM   #25
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Sorry for your loss, as well. It must have been quite unnerving to lose a sister. My mother was almost 98 years old, so we knew it was time.
Thanks. But I meant my sister was the executor (not my brother).
I'm talking about my mother too, and she was 88yo. had an awesome
life, and far far outlived any of my other parents or grandparents.
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Old 02-05-2009, 05:59 PM   #26
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Originally Posted by RustyShackleford View Post
Thanks. But I meant my sister was the executor (not my brother).
I'm talking about my mother too, and she was 88yo. had an awesome
life, and far far outlived any of my other parents or grandparents.
Oh! I didn't get it the first time. Thanks. I know what you mean - - my mother had a wonderful life and did all she really wanted to do. Still, it's hard not to miss her, and I'm sure you feel the same about your mother.

Meanwhile, it's great to feel like I can ALMOST file my income tax. At least I have some 1099's from the unclaimed property.
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Old 02-06-2009, 10:57 AM   #27
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Quote:
Originally Posted by Want2retire View Post
Rusty, the State of Louisiana Unclaimed Property office sent me 1099's for my unclaimed property (apparently the remnants of some old mutual fund shares which I forgot about but then the mutual fund company disbanded in the Enron mess). I just received the 1099's yesterday. What a relief. Thought I'd alert you to that.

Thanks for the "heads up" on the K-1 forms. I haven't received anything at all and will ask my brother/executor what gives. All parts of the estate were investments, which declined in value from the time of her death until all distributions were made, so maybe they are not necessary. I am really glad to hear that they aren't going to think I'm a drug kingpin after all!!
The k-1 may show a loss for the estate which you might be able to deduct.
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Old 02-15-2009, 06:17 PM   #28
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Vanguard posted updated 1099-Div on their website today. Actual mailing not until next Tuesday. Probably only important if you have their REIT fund which was not previously reported.
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