Final Return For Decedent

DEFINITION of 'Final Return For Decedent'

The final tax return filed for an individual in the year of that person's death. Taxpayers who die in any given year will have one final tax return filed on their behalf for this year. A copy of the death certificate must be attached to the return for it to be processed.

BREAKING DOWN 'Final Return For Decedent'

The decedent's executor or personal representative is usually responsible for filing the final return for the decedent. This return pertains solely to income taxes and should not be confused with the estate tax return. Income received after the taxpayer's death is also reported on this return.

RELATED TERMS
  1. Form 4506

    A tax form distributed by the Internal Revenue Service (IRS) ...
  2. IRS Publication 17

    A document published by the Internal Revenue Service that outlines ...
  3. Substitute Return

    A tax filing that the IRS will create for a taxpayer in order ...
  4. Joint Return

    A U.S. income tax return filed on behalf of a married couple, ...
  5. Individual Tax Return

    The type of tax return filed by an individual. Both single and ...
  6. Consolidated Tax Return

    A comprehensive tax return that encompasses a group of smaller ...
Related Articles
  1. Savings

    Explaining Tax Returns

    A tax return is the form or forms used to file income taxes with the IRS.
  2. Taxes

    An in Depth Look at How Inheritances Are Taxed

    The tax implications of an inheritance can be complex. Here's what beneficiaries need to know.
  3. Taxes

    Should You File Taxes For Free?

    If you qualify, you can file your taxes for free online. Find out how to do it, and whether it's worth the effort.
  4. Taxes

    20 Tax Changes You Need To Know About

    Don't miss out on the tax changes. Here's a list that you need to know about.
  5. Taxes

    Should You File An Early Tax Return?

    When it comes to filing your taxes, it can often pay to wait until the deadline.
  6. Taxes

    5 Rules To Follow If You Are Filing Taxes Yourself In 2013

    It is important to make sure that you cover all the bases when you decide to file without the financial expertise of a tax professional.
  7. Taxes

    Personal Income Tax Guide: Common Filing Mistakes

    By Ken ClarkNo matter how much tax planning you do, if you screw up the actual process of filing your taxes, the ensuing penalties and time spent cleaning up the mess can quickly wipe out any ...
  8. Insurance

    How Obamacare Is Raising Your Taxes

    There are literally dozens of new, amended or broadened tax provisions under the Obamacare legislation. Find out how your taxes will be affected in the years to come.
  9. Taxes

    Are IRS-Prepared Tax Returns The Solution To Our Tax Woes?

    The government is considering letting the IRS do your taxes for you. While this may sound great, there are plenty of reasons why you may not want to trust the IRS to calculate your tax return. ...
  10. Taxes

    3 Common Tax Questions Answered

    We clarify some rules that often puzzle taxpayers.
RELATED FAQS
  1. How can I reduce the taxes on my inherited retirement assets?

    Many beneficiaries miss out on one of the most significant tax deductions for inherited retirement-plan assets; the income ... Read Answer >>
  2. What's the difference between a tax rate and a tax bracket?

    These two terms are often incorrectly used interchangeably. Find out the difference between your tax rate and your tax bracket. ... Read Answer >>
  3. What is the difference between federal and state withholding tax?

    Discover whether you can file your taxes by yourself. The three main options for tax preparation are a tax professional, ... Read Answer >>
  4. I made $2,700 last year. Do I need to file taxes if my job did not take taxes out ...

    I am married and filing separately. My job, despite my W4 being correct, did not take any taxes out of... Read Answer >>
  5. How does the IRS want me to report the RMDs I receive from a small non-spousal inherited ...

    Aside from my own 1040, do I need to file tax returns for the stretch IRA in the name of the decedent's trust for my ... Read Answer >>
  6. What’s the difference between IRS Forms 1040 and 1040EZ?

    Though very similar, the differences between the 1040 and 1040EZ Forms are significant when it comes to filing your tax return. ... Read Answer >>
Hot Definitions
  1. Demand Curve

    The demand curve is a graphical representation of the relationship between the price of a good or service and the quantity ...
  2. Goldilocks Economy

    An economy that is not so hot that it causes inflation, and not so cold that it causes a recession. This term is used to ...
  3. White Squire

    Very similar to a "white knight", but instead of purchasing a majority interest, the squire purchases a lesser interest in ...
  4. MACD Technical Indicator

    Moving Average Convergence Divergence (or MACD) is a trend-following momentum indicator that shows the relationship between ...
  5. Over-The-Counter - OTC

    Over-The-Counter (or OTC) is a security traded in some context other than on a formal exchange such as the NYSE, TSX, AMEX, ...
  6. Quarter - Q1, Q2, Q3, Q4

    A three-month period on a financial calendar that acts as a basis for the reporting of earnings and the paying of dividends.
Trading Center