[WSBAPT] Non-prorata allocation of savings bonds in estate distribution

[Macpherson, Alan]

Listserv friends – we are allocating savings bonds to charitable
beneficiaries of an estate.  PLR 9537011 says we can do it and have the
accrued interest on the savings bonds taxed to the charities.
Unfortunately, the folks at Treasury are saying we can’t reissue the
savings bonds in the names of the charities before they are redeemed; thus
the estate will get a 1099 for the interest.  Have you run into this, and
just pushed the taxable income out by the way you did the estate 1041?
Thoughts appreciated; thanks much.  

Alan D. Macpherson
Attorney at Law

 

Tacoma Office
1201 Pacific Avenue, Suite 2100
Tacoma, Washington 98402
 <http://www.gth-law.com/> http://www.gth-law.com
T 253 620 6468
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 <mailto:amacpherson at gth-law.com> amacpherson at gth-law.com
Assistant: Denise Lowry
T 253 620 6509
 <mailto:dlowry at gth-law.com> dlowry at gth-law.com



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