On 2/25/2021 7:18 PM, Dave Smith wrote:
> On 2021-02-25 6:45 p.m., jmcquown wrote:
>> On 2/25/2021 6:07 PM, Dave Smith wrote:
>>> On 2021-02-25 5:35 p.m., jmcquown wrote:
>>>
>>>
>>> Maybe it is time to start passing the cost of the tax onto them.
>>> Figure out your taxes based on the whole amount and then with only
>>> 1/3 of the annuity. If they complain you can threaten to let the IRS
>>> know about their undeclared income.
>>>
>> It doesn't work that way.Â* Probate was finalized in 2009.Â* Prior to
>> that I talked to at least seven agents via the phone at the IRS (in
>> one phone call!) about this issue before I filed the Estate taxes.
>> They were all very helpful and understood my questions.Â* Each tried to
>> find a way to make them file on their share.Â* Unfortunately the tax
>> code isn't written that way.Â* It all came down to the beneficiary
>> listed on the annuity.Â* I was responsible even if I distributed the
>> money to my siblings.Â* I cannot go back and change a settled estate
>> now.Â* The IRS doesn't consider it "undeclared income".Â* Done deal.Â* Oh
>> well.
>>
>
> In that case, do that same calculation to figure out how much you owe
> with the annuity and without. Deduct that from the gross of the annuity
> and split that equally.
>
>
What are you talking about? I said that was finished in 2009. There is
nothing left to calculate or deal with.

Jill