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. Options & Futures

    Getting Started On Your Estate Plan

  2. Retirement

    Refusing An Inheritance

  3. Retirement

    Skipping-Out on Probate Costs

  4. Personal Finance

    Get Ready For The Estate Tax Phase-Out

Hot Definitions
  1. Capitulation

    When investors give up any previous gains in stock price by selling equities in an effort to get out of the market and into ...
  2. Turkey

    Slang for an investment that yields disappointing results or turns out worse than expected. Failed business deals, securities ...
  3. Conduit Issuer

    An organization, usually a government agency, that issues municipal securities to raise capital for revenue-generating projects ...
  4. Financing Entity

    The party in a financing arrangement that provides money, property, or another asset to an intermediate entity or financed ...
  5. Hyperinflation

    Extremely rapid or out of control inflation. There is no precise numerical definition to hyperinflation. Hyperinflation is ...
  6. Gross Rate Of Return

    The total rate of return on an investment before the deduction of any fees or expenses. The gross rate of return is quoted ...
Trading Center