Hi all,
My mother in law's aunt passed away last year. MIL is executor of estate and had/has power of attorney for all accounts. However, she would like me to file the taxes. I visited the IRS site but have a few questions.
I have no idea if she will owe taxes or get a refund - the paperwork is being mailed to me. MIL's aunt was extremely well organized, so I'm not too worried about that.
Thanks for any assistance!
1) Do I need to file separate returns for the individual and the estate?
2) Do I really just write deceased on the top of the return (what about e-file)? Since this is my first go at this and the results affect someone other than me, I feel I should use tax preparation software (Turbo tax or tax act) for guidance. I'll also look at all the forms and read instructions (don't even know what forms yet)
3) Anyone who has done this - anything I should know in advance? anything you wish you knew? Other than income statements, DIV forms, etc - any other paperwork I need?
4) I'm still navigating the IRS site but haven't found a whole lot
5) State taxes are for CA