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. Executor

    An individual appointed to administrate the estate of a deceased ...
  5. Income In Respect Of A Decedent ...

    Money that was due to a decedent and will pass through to the ...
  6. Estate Planning

    The collection of preparation tasks that serve to manage an individual's ...
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. Get Ready For The Estate Tax Phase-Out
    Personal Finance

    Get Ready For The Estate Tax Phase-Out

  4. Your Will: Why You Need A Power Of Attorney ...
    Options & Futures

    Your Will: Why You Need A Power Of Attorney ...

comments powered by Disqus
Hot Definitions
  1. Due Diligence - DD

    1. An investigation or audit of a potential investment. Due diligence serves to confirm all material facts in regards to ...
  2. Certificate Of Deposit - CD

    A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate ...
  3. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  4. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  5. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
  6. Days Payable Outstanding - DPO

    A company's average payable period. Calculated as: ending accounts payable / (cost of sales/number of days).
Trading Center