Deedee, late night, no caffeine?
Most of the estate falls within the living trust that was set up prior to decedents death.Thanks, Art and others.Re: executor's fees, posted by: DeeDee, January 20, 2008 10:56PM, oOPs, my mistake - the missing "NOT" has been inserted.I agree with Art.Thank you for any crack para xara web designer mx premium advice!Re: executor's fees, posted by: Boutwell, January 20, 2008 11:53AM, no 1099-misc is required unless the estate itself is engaged in a trade or business (for example, if the decedent was self-employed and would have been required to file for the same type of payment).This is NOT self employment income.The 1099-Misc is for payment of services performed in a trade or business by people not treated as employees.I would assume so, but just wanted to be sure.Re: executor's fees, posted by: Art, January 20, 2008 06:41AM.Add not after would, moderator: Art is referring to DeeDee's message as it read prior to a correction.Re: executor's fees, posted by: Herb, January 20, 2008 11:46AM.Re: executor's fees, posted by: DeeDee, January 20, 2008 06:24AM, any payment of 600 or greater should be reported on Form 1099-misc with the designation "Non employee compensation." The recipient, unless in the business of handling estates, would NOT report this on Sch.Here's another thread dealing with this same issue: m, sorry, only registered users may post in this forum.Secondarily, if the estate simply wanted to issue one, would it be 1099-misc, Other Income?
Trusts and estates are generally not treated as a trade or business and nonprofessional trustees are serving in a capacity that does not qualify as a trade or business activity for that individual. .
Executor's fees, posted by: vrober2000, January 20, 2008 06:07AM, does the estate have to give the executor a 1099 of any type for services?