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PDTax need assistance. On a 1041 there is a Decedent's
PDTax need assistance. On a 1041 there is a Decedent's Estate Created at time of death. First year of death 2016. A final 1040 return was filed for year of death 2016. There was a RVOC trust created i… read more
Arthur Rubin
Arthur Rubin
Doctoral Degree
2,158 satisfied customers
It is the final return. Now, There is a Family RVOC Living
it is the final return. Now, There is a Family RVOC Living Trust. However, the Successor Trustee applied for an EIN for the decedent's estate instead of the Family RVOC Living Trust. All funds receive… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,033 satisfied customers
Lev - Fam Rev Trust Yes - we may make section 645 election
Lev - Fam Rev TrustYes - we may make section 645 election for the trust if needed.Question on the 1041 What type of Entity is selected?… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,033 satisfied customers
Estate or FAM REV LIV TRUST. Mother passed 2016. Decedent's
Estate or FAM REV LIV TRUST. Mother passed 2016. Decedent's Estate was opened and an EIN was assigned. It was opened pending decedent's deceased brother proceeds.In that same year, Father pass and an … read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,033 satisfied customers
A trustee cashed in an ira but didn't distribute funds to
A trustee cashed in an ira but didn't distribute funds to the beneficiaries before the end of the year … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
6,066 satisfied customers
Lev, You helped me on K-1 question yesterday. working on
Lev, You helped me on K-1 question yesterday. working on same return with new question re 645 Election and 8855. I am planning to file 1041 for trust ( I am trustee ) , although there will be a very s… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,033 satisfied customers
Mid year 2015 both trustees of trust passed away. EIN was
Mid year 2015 both trustees of trust passed away. EIN was issued Mid September 2015 and stated 1041 to be filed on 12/16/2015. There is an extension on the 1041. Question, is the income divided from b… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
4,218 satisfied customers
RVOC TR DTD Feb 26 2004. Both trustees passed away same year
RVOC TR DTD Feb 26 2004. Both trustees passed away same year in 2015. An EIN was issued on 12/16/2015. According to the IRS letter Form 1040 must of been filed by 12/16/2015? Does the decease do a 104… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
4,994 satisfied customers
Joint Trust last trustee is now deceased (2014). There are 4
Joint Trust last trustee is now deceased (2014). There are 4 persons who are heirs-at-law. A final 1041 needs to be completed and the only tax doc received under the deceased name was a 1099-DIV & 109… read more
Jonathan Tierney
Jonathan Tierney
MBA
664 satisfied customers
You just answered my question on a 645 election. Let me
You just answered my question on a 645 election. Let me follow up. Decedent dies in December 2014. I'm asked into it in Fall 2015 so it's too late to get the 1041s and 8855. Decedent's joint 1040 for … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,992 satisfied customers
Filed 2014 tax return by due date in 2015. In May of 2015
filed 2014 tax return by due date in 2015. In May of 2015 received k-1 tax year beginning 04/01/14 and ending 03/31/2015. Can I put this on the 2015 tax year and considered 2015 income as it ended 03/… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
12,108 satisfied customers
What publication covers how and when to fiie a return
What publication covers how and when to fiie a return for an estate in an Irrevocable trust. The trust was effective from date of death.… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,992 satisfied customers
On a decedent trust tax return 1041, are funeral expenses and
On a decedent trust tax return 1041, are funeral expenses and beneficiary travel costs deductible?… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,033 satisfied customers
In New York State, I applied a land trust that is the owner
In New York State, I applied a land trust that is the owner of a rental property. The beneficiary of the land trust is my LLC (Limited Liability Company). When IRS assign a EIN (Employer Identificatio… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
what if form 8855 was not filed and the trust is electing 645,
what if form 8855 was not filed and the trust is electing 645, do we just file with the return… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,033 satisfied customers
My client filed for a FEIN# XXXXX her Moms Trust after her Mom
My client filed for a FEIN# XXXXX her Mom's Trust after her Mom passed away on 2/26/13. Few questions: First, is it required to file a Trust return? I have only 1 Form 1099R $54k with only $7k taxable… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,033 satisfied customers
1041- Whos income is it? All of dads assets belonged to his
1041- Who's income is it? All of dad's assets belonged to his (previously revocable ) trust when he died in Dec 2013 except one non-qualified annuity. Mom is 100% beneficiary of this annuity. I (think… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,992 satisfied customers
My client died in September of 2010. We requested an extension
My client died in September of 2010. We requested an extension of her tax return. She had a revocable trust, someone else was the trustee and beneficiary. We filed 1040s for her previously and reporte… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,033 satisfied customers
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