Final Return For Decedent

AAA

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.

INVESTOPEDIA EXPLAINS '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. Custodial Agreement

    An arrangement whereby one holds an asset or property on behalf ...
  2. Cleanup Fund

    An insurance term referring to the final expenses associated ...
  3. Decedent

    A person who is no longer living. Just as a taxpayer's possessions ...
  4. Estate Planning

    The collection of preparation tasks that serve to manage an individual's ...
  5. Inheritance Tax

    In some states in the U.S. (and in the United Kingdom), a tax ...
  6. Executor

    An individual appointed to administrate the estate of a deceased ...
Related Articles
  1. Getting Started On Your Estate Plan
    Options & Futures

    Getting Started On Your Estate Plan

  2. Refusing An Inheritance
    Retirement

    Refusing An Inheritance

  3. How can I reduce the taxes on my inherited ...
    Retirement

    How can I reduce the taxes on my inherited ...

  4. What is estate planning?
    Retirement

    What is estate planning?

comments powered by Disqus
Hot Definitions
  1. Elasticity

    A measure of a variable's sensitivity to a change in another variable. In economics, elasticity refers the degree to which ...
  2. Tangible Common Equity - TCE

    A measure of a company's capital, which is used to evaluate a financial institution's ability to deal with potential losses. ...
  3. Yield To Maturity (YTM)

    The rate of return anticipated on a bond if held until the maturity date. YTM is considered a long-term bond yield expressed ...
  4. Net Present Value Of Growth Opportunities - NPVGO

    A calculation of the net present value of all future cash flows involved with an additional acquisition, or potential acquisition. ...
  5. Gresham's Law

    A monetary principle stating that "bad money drives out good." In currency valuation, Gresham's Law states that if a new ...
  6. Limit-On-Open Order - LOO

    A type of limit order to buy or sell shares at the market open if the market price meets the limit condition. This type of ...
Trading Center