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
Need to know how to report hobby income reported on a 1099-MISC form? Learn more from the tax experts at H&R Block
Learn more about the tax form 1040a and what income, adjustments, and credits you can file from the experts at H&R Block.
Are you able to e-file your amended tax return online or do you have to mail it to the IRS? Learn more from the tax experts at H&R Block.
Don't panic if you have a missing w2 form. The Tax Institute can help - find out what you should do with this article.
