Thanks. It sounds like you have some experience with these returns. Way more than the last expert who didn't have a clue and thought a bankruptcy estate return was for someone who died.
OK, no children can be claimed on the bankruptcy estate tax return (which is a 1041 with a 1040 attached). Got it. So that would mean no child care credit and no child tax credit either, right? Also I guess no education credit
, since that is related to the dependent that I can't claim?
So it seems like I can and should take all of those on the individual 1040, right? I understand the individual 1040 is still required to cover the income and deductions
for the part of the year before the bankruptcy estate was created. Also, we missed the chance for a short year return, so it will be filed for the whole year, even though we will be reporting only 5 months of activity since the bankruptcy date is 6/1/10. I am OK on this unless you tell me different.
How about the Making Work Pay Credit? Do I get a choice with that? None of the examples address such a credit. Should I claim that on the bankruptcy estate 1041/1040. Or on the individual 1040? And ideas?
Also, since I get 1 personal exemption on the bankruptcy estate 1041/1040 does that effect my ability to get 1 personal exemption on the personal 1040? Taking one exemption on each return seems like double-dipping, but it also would seem weird not to take it on the individual 1040. Is it appropriate to claim it on both returns?
I hope that is not too many question. Thanks so much for your expertise. I am truly grateful for some clarification from someone with experience with this.