Thursday, September 16, 2010

Do I need to report my deceased fathers income on my tax return?

My father died in 2004 so I filed a tax return for him that year. I was his only child so everything went to me. His assets were in a living trust so they didn't go through probate and went directly to me. I know that I should have transferred his assets to my name and social security number but never got around to it. 1099's were issued under his name and social security number for 2005. Should I pick this income up on my 2005 return with a notation? Thanks for your help.