Generally, report the following interests in Schedule A: (1) assets distributed from an estate; (2) a beneficial interest in an estate that has not yet been distributed; and (3) fees for service as an executor or administrator. Do not report an interest in the will of a living person. There are many types of wills, and wills are established and interpreted under state law. The guidance provided here and in other sections of this guide addresses the most common situations. It is recommended that you work with an ethics official at your agency to determine whether and how to disclose information about a will or an estate. Note that the wills and estates discussed in this section do not involve trusts. Consult an ethics official at your agency if the will or estate involves a trust. For You, Your Spouse, and Your Dependent Children Schedule AReporting Assets Distributed from an EstateReport each distributed asset that individually was worth more than $1,000 at the end of the reporting period or that individually produced more than $200 in income during the reporting period. You only need to count income produced by the asset after it was distributed to you, your spouse, or your dependent children. This guide contains specific instructions for each type of asset that you hold. For example, this guide contains instructions for mutual funds, exchange-traded funds, stocks, corporate bonds, and other financial instruments. Reporting a Beneficial Interest in an Estate That Has Not Been Distributed Report a beneficial interest if the interest was worth more than $1,000 at the end of the reporting period or if the interest produced more than $200 in income during the reporting period. Block A: Identify the estate. If the estate is that of a relative, you may write “estate of a family member.” In other cases, identify the estate by the last name of the party (e.g., “Estate of Mr. Doe”). If you cannot ascertain the value of the interest or the income produced, leave Blocks B and C blank and write “value and income not readily ascertainable” in Block A. Block B and Block C: If known, report the value of the interest and the income it produced by marking the appropriate columns. In the case of an undistributed share of an estate, the income will be “None (or less than $201).” Reporting Fees for Service as Executor or Administrator Report the source and amount of fees that you received for services as an executor or administrator of an estate during the reporting period if the amount was more than $200. Report the source of fees that your spouse received if the amount was more than $1,000. Block A: Identify the estate. If the estate is that of a relative, you may write “estate of a family member.” In other cases, identify the estate by the last name of the party (e.g., “Estate of Mr. Doe”). Block C: For any fees you received, write “executor fees” or “administrator fees” in the “Other Income” column and provide the exact amount of fees you received during the reporting period. For any fees that your spouse received, simply write “spouse’s executor fees” or “spouse’s administrator fees.” Do not provide the amount of fees that your spouse received. Wills of Living Persons You do not need to report any interest in the will of a living person. Note, however, that other reporting requirements may apply if the person has established a trust. Click Here for Frequently Asked Questions
This guide is not intended to provide investment advice, and you should not rely on statements in this guide when making investment decisions.