BobKamman
Level 15
2 weeks ago
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"2024 1099-B is in the name of the trust w/EIN; step up in basis is included on 1099-B post DOD . . . I have entered 1099-B totals on both 1040 + 1041 with separate line to adjust for nominee distributions; separate line references adjustments showing SSN on 1041 as well as EIN on 1040 so each return reports the correct amount."
This makes no sense. If the post-death 1099-B already reports using the EIN, why complicate the 1040 with irrelevant transactions? Why put sales reported to SSN on the 1041, unless there were some transactions before the new account was established?
And no, there is no short little man with a green eyeshade scrutinizing these returns as they arrive at IRS.