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1099 reporting to an estate manager
January 9, 2023
Q. A claim was filed by "Jane Smith, as personal representative for the estate of John Jones." A settlement has been reached, and the terms of the agreement require that the payment will be made to "the estate of John Jones." When reporting this payment, can we file just one 1099 for the estate, or do we need to file a second 1099 for Jane Smith?
A.
(Answered by IOFM's third-party tax experts)
If the payment is reportable, the Form 1099 will report the estate as "Recipient" because the payment…
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