Personal Finance & Money Asked by Cave Johnson on July 22, 2021
I have been helping my dad with his tax return before the upcoming deadline. He has early signs of Alzheimer’s disease which ramped up within the last 2 years. Unfortunately I haven’t been knowledgable about his financial information and we didn’t have or he lost the copies of the 1099 forms he received. He has different savings accounts and pensions. Luckily I went to H&R block where he had this taxes done last year and they gave me information about what 1099 forms he had last time. I was able to go to each financial institution listed and was able to get a new copy.
However there is one entry which the guy from H&R Block listed which just said
Honeywell International 1099-DIV
As far as I can tell Honeywell is a publicly traded company so this is probably stock that he owns. But I don’t have the foggiest idea what to do with this. I would assume that I would have to go to a financial institution to get the 1099 form but I don’t have information on that. Where can I go to find out how much he earned from this stock last year? Would my only option be to search through all his accounts to find something that might be stock dividends?
Best place to start is likely by checking in with his bank(s), to see if he also has investment accounts with that institution. This will also be helpful as, aside from the pending tax deadline, you will want to create a record of where all the financial info he has is located. To do this will likely either require his involvement, or a legal Power of Attorney-type document. Now would also be a good time to do that. Difficult though it may be to have those conversations with him, now will be easier than down the road.
Failing that, for this specific item you could potentially reach out to the company for record of shareholder info + dividend record, or you could look through his bank statements to see when dividends were received [check online when they pay dividends, and check his bank for receipts around that week].
In the meantime, I suggest you request an extension with IRS; no reason to put pressure on yourself now. You may need to make a payment if you expect taxes could be owing, but it will give you time to get affairs in order.
Correct answer by Grade 'Eh' Bacon on July 22, 2021
Get help from others!
Recent Questions
Recent Answers
© 2024 TransWikia.com. All rights reserved. Sites we Love: PCI Database, UKBizDB, Menu Kuliner, Sharing RPP