I have a question about when to file Form 1041. I was the beneficiary and fiduciary for an estate. The estate had less than $600 income in 2016, so I didn’t file a return. The estate closed in 2017. Do I need to file a final estate tax 1041?
Regarding when to file Form 1041, if the estate didn’t have income more than $600, you don’t need to file a return for it.
File estate tax Form 1041 in the year the estate closed. Make sure you mark the Final return box on the face of the return. Also, check the Final K-1 box at the top of Schedule K-1.
Related Resources
Inheritance tax is the tax you pay as the beneficiary of property that you inherited and then you sell. Learn more from the tax experts at H&R Block.
If it is determined that you have seriously delinquent tax debt, your passport application may be denied. Learn more from the tax experts at H&R Block.
If you receive a Form W-2G for gambling winnings, you must report the full amount of income shown on the W-2G on your tax return. Learn more from H&R Block.
Do you need a filing extension from the IRS? Learn how to file IRS extension Form 4868 and get tax answers from H&R Block.
