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Member
Group: Forum Members
Last Login: 7/28/2009 9:49:02 AM
Posts: 9,
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| On a first to die 706, I am wondering if it is required to have the Social Security numbers for beneficiaries on page 2, Part 5. There were specific bequests of money to the kids, but I do not have the social security numbers, and would prefer not to have to get them. This is tax free to the kids, but do not want this one issue to trigger anything. Lacerte is giving a diagnostic as well. Thank you.
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Power Member
Group: Forum Members
Last Login: 2/16/2010 6:30:43 PM
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| The instructions indicate you can enter "unknown" if you don't have the SSN or EIN for a beneficiary receiving more than $5,000. Since these are specific bequests you don't need the SSNs for the 1041 BUT you will need them when the surviving spouse passes away. I'd just get them now - the surviving spouse has more clout in getting the kids to provide the numbers, than one of the siblings would after the survivor's death. If this is a first marriage situation (I hope for your sake it is), the survivor may have the numbers anyway from old tax returns or from making lifetime gifts to the kids.
Mary Kay Foss
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Member
Group: Forum Members
Last Login: 7/28/2009 9:49:02 AM
Posts: 9,
Visits: 45
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| Thanks for the response. There is no 1041 in this instance. 2 kids are from prior marriage of the deceased and this is all they are getting. I will use "unknown", I just wanted to make sure that using "unknown" doesn't trigger anything unfavorable.
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