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S
SHARONSAN
Level 1
March 10, 2024
Question

Is it required to enter the FMV of Decedent's Assets at Date of Death in Form 541 for an estate ?

  • March 10, 2024
  • 1 reply
  • 12 views
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    1 reply

    sjrcpa
    sjrcpa
    Level 15
    March 10, 2024

    What's a Form 541?  A state estate income tax?

    Or a state estate tax?

    And what state?

    The more I know the more I don’t know.
      BobKamman
      BobKamman
      Level 15
      March 10, 2024

      California fiduciary income tax return.  I thought everyone knew that.  I just don't understand the question.  Maybe something was sold, and its value at DOD was less than the decedent's basis, and they want to take a greater loss.  

        sjrcpa
        sjrcpa
        Level 15
        March 10, 2024

        "California fiduciary income tax return.  I thought everyone knew that."

        I'm dumb Bob. I think a few other states may also use 541 for this.

        I also don't understand the question.

        The more I know the more I don’t know.
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