Estate first income tax return and estate estate tax return

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Reference no: EM131235028

Each of the following items was incurred by José, the cash basis, calendar year decedent. Under the terms of the will, Dora took immediate ownership in all of Josée’s assets, except the dividend-paying stock. The estate received Joseé’s final paycheck.

Applying the rules for income and deductions in respect of a decedent, indicate on which return each item should be reported: Dora’s income tax return (Form 1040), the estate’s first income tax return (Form 1041), or the estate’s estate tax return (Form 706). More than one alternative may apply in some cases.

Item Incurred                                                                                                                       Form(s) Reported on

a. Wages, last paycheck                                                                                                        ______________

b. State income tax withheld on last paycheck                                                                         ______________

c. Capital gain portion of installment payment received                                                             ______________

d.   Ordinary income portion of installment payment received                                                     ______________

e.   Dividend income, record date was two days prior to Jose’s death                                         ______________

f.   Unrealized appreciation on a mutual fund investment                                                            ______________

g. Depreciation recapture accrued as of date of death                                                              ______________

h.   Medical expenses of last illness                                                                                        ______________

i.    Apartment building, rents accrued but not collected as of death                                           ______________

j.   Apartment building, property tax accrued and assessed but not paid as of death                    ______________

Reference no: EM131235028

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