What is an “income in respect of a decedent”?
In Alaska, “income in respect of a decedent” is an amount of money that a deceased person earned but did not receive before their death. This type of income is often from wages, investments, or from an estate that was not settled while they were alive. For example, if a person earned money from a job or from investments but passed away before they received their pay, that money would fall under the category of income in respect of a decedent. It is important to note, however, that this type of income is not the same as the deceased person’s estate, which includes money or property that was already in their possession when they passed away. Any income in respect of a decedent is usually received by the estate after the person’s death and is distributed to their beneficiaries according to the laws of inheritance in Alaska.
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