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Old 10-05-2016, 08:02 AM
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Filing with missing 1099s

I am the administrator of an estate. The estate was set up to file income taxes on a fiscal year, from July 2015 through June 2016.
I must file the tax return by 10/15 (10 days from now).
This is the first and not the final return for the estate.

There isn't much complication to the estate, but it has received interest income in two forms:
interest on the estate savings account (which is enough to report) and interest on the EE savings bonds that were cashed in.

For the savings account interest, the bank sent a 1099-INT for 2015, but nothing for 2016, because they don't generally do that until the year has ended.
I have asked the bank if they can create a 1099-INT for 01/01/2015-06/30/2016, and someone is looking into it, but I have my doubts.
Assuming I don't receive that, should I:
- file without the 1099, but include the interest. do I attach a note or something?
- file without the 1099 and don't include that interest. will I include that interest in the next fiscal year or file an amended return later?

For the EE bond interest, I never received a 1099-INT. There were 77 paper bonds and I chose to pack them up and send them to the IRS to cash instead of using the local bank.
I got no return correspondence from the IRS whatsoever, but thankfully I DID receive a direct bank deposit for the correct amount.
I have not attempted to contact the IRS.
Should I:
- file without the 1099, but include the interest. again, so I attach a note or something?
- call the IRS and ask about it?

Thanks for any guidance!



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Old 10-05-2016, 08:59 AM
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The bank has confirmed they will only create a 1099-INT for the savings account at the end of 2016. So I only have the 1099 for the first part of my estate's fiscal year.



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Old 10-05-2016, 05:00 PM
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Quote:
Originally Posted by ionymous View Post




#1;I have asked the bank if they can create a 1099-INT for 01/01/2015-06/30/2016, and someone is looking into it, but I have my doubts.
Assuming I don't receive that, should I:
- file without the 1099, but include the interest. do I attach a note or something?



#2 file without the 1099 and don't include that interest. will I include that interest in the next fiscal year or file an amended return later?




#3For the EE bond interest, I never received a 1099-INT. There were 77 paper bonds and I chose to pack them up and send them to the IRS to cash instead of using the local bank.
I got no return correspondence from the IRS whatsoever, but thankfully I DID receive a direct bank deposit for the correct amount.
I have not attempted to contact the IRS.
Should I:
- file without the 1099, but include the interest. again, so I attach a note or something?
- call the IRS and ask about it?

Thanks for any guidance!
#1;yes;actually, You don't need to have a 1099-INT; you can just report as if you had the form.aslongas
you know the amount, you can report the interest without a 1099-INT.if you want you may attach a note/stmt as there is no penalty in attaching a note/a stmt withyour return.no problem at all.

#2;as mentioned previously.

#3as said, Since you don't have a 1099-INT, just enter the information without any tax ID numbers. That's not mandatory information on interest income unless tax was withheld from the interest.



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Old 10-05-2016, 05:12 PM
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Join Date: Oct 2016
Posts: 3
Thank you Wnhough! I very much appreciate the response.
I'll attach a note for the missing 1099's, just to be thorough.



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