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Level 2
February 21, 2025
Question

Filing form 1041 for deceased

  • February 21, 2025
  • 2 replies
  • 9 views

I have question for filing form 1041 for deceased person. 1041 will be filed for 2024 after year 2024 there is no earnings to distribute only deceased main home that successor trustee lives (living trust) till die.

Question is should I file 1041 for year 2024 as a final return? .Trust was Revocable trust and after death become irrevocable Trust Thanks

Sam

    This topic has been closed for replies.

    2 replies

    IRonMaN
    Level 15
    February 21, 2025

    If there is nothing left to distribute, it sounds like a final return to me.

    Slava Ukraini!
    sjrcpa
    Level 15
    February 21, 2025

    Is it an estate (for a deceased person)?

    Or a trust (Successor Trustee)?

    Who/what legally owns the house?

    What happens to the house when Successor Trustee dies?

    The more I know the more I don’t know.
    S13Author
    Level 2
    February 21, 2025

    Trust owns the house. when successor trustee dies children (beneficiaries get the house

    Thanks 

    IRonMaN
    Level 15
    February 22, 2025

    I misread that.  If the trust owns the house until the last man standing, the trust is still alive.  Although that kind of sucks for the next round of beneficiaries if the house appreciates in value.

    Slava Ukraini!