How Do I Get a 1099 for a Deceased Person?

Handling the financial affairs of a deceased person can be complex, particularly with tax documents like the 1099, which reports various types of income received by the decedent during their lifetime. This income must be accurately reported for tax purposes.

Establishing Executor or Representative Authority

To manage the financial affairs of a deceased individual, it is essential to establish legal authority as the executor or personal representative. This authority is granted through a probate process, which involves the validation of the decedent’s will by a court. If no will exists, the court may appoint an administrator to oversee the estate. The executor or representative is responsible for managing the decedent’s assets, settling debts, and ensuring tax compliance, including obtaining necessary tax documents like the 1099.

Once appointed, the executor or representative must obtain Letters Testamentary or Letters of Administration, depending on whether a will exists. These documents prove the authority to act on behalf of the estate. Financial institutions and other entities will require these documents before releasing information or documents related to the decedent’s financial matters. Keeping these documents accessible is critical throughout the estate administration process.

Gathering Necessary Documentation

Obtaining a deceased person’s 1099 form requires identifying all potential income sources, such as interest from bank accounts, dividends from investments, or payments from retirement accounts. Reviewing previous tax returns can reveal recurring income sources. For instance, if the decedent previously received dividends from a particular stock, similar income likely occurred in the year of their passing. Bank statements, brokerage account summaries, and correspondence from financial institutions can also help identify income sources.

Compile a list of these entities along with their contact information to streamline the process of requesting 1099 forms. Prepare a checklist of documents to provide, such as the decedent’s Social Security number, date of death, and account numbers. Having these details readily available will facilitate smoother communication with financial institutions.

Contacting the Issuer

After identifying income sources, contact each issuer. Verify contact details through their official websites or recent correspondence to ensure inquiries reach the correct department and avoid delays.

When contacting an issuer, clearly state your purpose and provide all necessary information upfront, such as Letters Testamentary or Administration to confirm your authority, along with the decedent’s Social Security number and account details. Being thorough in your initial communication can expedite the process and reduce follow-up requests.

Engaging with issuers may require navigating automated systems or speaking with multiple representatives, so patience is important. Request confirmation on the expected timeline for receiving the requested 1099 forms to help plan the next steps. Maintain a detailed record of all communications, including dates, representative names, and reference numbers, to track progress and address any disputes.

Resolving Corrections or Missing Information

Review the received 1099 forms carefully for discrepancies or omissions. Compare the income reported on the forms with the decedent’s financial records, such as bank statements and investment account summaries, to identify any inconsistencies or missing forms.

If errors or missing information are found, promptly contact the issuer to request corrections. Provide a clear explanation of the discrepancy and include supporting documentation, such as account statements. Request written confirmation of any corrections to ensure the revised information is properly recorded.

Retaining Records

Retaining financial records related to 1099 forms and other documents is both practical and legally necessary. The IRS recommends keeping tax records for at least three years from the filing date, but in estate administration, retaining them longer is often prudent, particularly if the estate is subject to an audit or unresolved financial matters.

Organize records systematically to simplify future reference. Categorize documents into sections like income records, tax filings, and correspondence. Digital recordkeeping can offer secure storage and easy retrieval. Scanning paper documents and backing them up on a secure cloud platform ensures critical information is not lost. Use encryption to protect sensitive information, such as Social Security numbers or account details.

For estates exceeding the federal estate tax exemption threshold—$12.92 million for 2023—retain documentation supporting asset valuations and deductions claimed on Form 706. These records may include appraisals, expense receipts, and prior tax filings. Comprehensive and organized records help ensure compliance and simplify the resolution of the estate’s financial affairs.