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Do I need to file 1041 if no tax is due? - Intuit Yes, if what you determine the gain to be is correct, and regardless of any tax due If there is any income within the estate for the tax year that is $600 or more, a Form 1041 must be filed Yes assuming the estate received the proceeds and then distributed the gain to them, each beneficiary needs the K-1 if there is income distributed to them The distributable net income may indicate there
Solved: Does a living grantor trust become a simple complex . . . - Intuit Yes, once the grantor passed a new irrevocable trust was created and income distributions are reported on the form 1041 Since assets were distributed in the tax year, the trust is complex and no, it is not a grantor trust Remember you have the choice to file using the calendar year or a fiscal year
personal residence on Form 1041 - ttlc. intuit. com An income tax return is required only if the estate generated more than $600 in gross income If there was no income, you don't have to file a Form 1041 for 2024 You will have to file Form 1041, U S Income Tax Return for Estates and Trusts to report the sale of the house
Solved: How do I get form 1041 from turboTax - Intuit How do I get form 1041 from turboTax Hello experts, I have Turbo Tax Home and Business and would like to use TurboTax to populate form 1041 for my mother's estate income My understanding is you need Turbo Tax Business in order to do a form 1041 I assumed Turbo Tax Home and Business qualified for "business"
Solved: Federal State Forms 1041 for 2024 - ttlc. intuit. com Do I submit an IL-1041 form in the same manner as the federal filing? If so, same as above, is it fine to submit my IL-1040 through T-Tax and mail in the IL-1041 (without needing to purchase T-Tax Business for State)?
Date Entity Created on a 1041 for a Sub Trust - ttlc. intuit. com The "Date Entity Created" for the Sub Trust on Form 1041 would be the date the Sub Trust was established, which is 10 15 2024 This is because the Sub Trust was created as a separate entity on that date, regardless of the court proceeding
How do I file Form 1041 for an estate or trust? - Intuit After you install TurboTax Business and begin working on your return, you'll be asked which type of return you need to prepare Select Trust or Estate return (Form 1041) and proceed You must sign in to vote Found what you need? Start my taxes Already have an account? Sign in
Do I have to file a trust tax return? - Intuit You'll need TurboTax Business to file Forms 1041, but not every Form 1041 needs to be filed Learn more about trusts from IRS Instructions for Form 1041 and about Foreign Trust Reporting Requirements
Solved: Determining 1041 Estate Expenses Allowed - Intuit Level 3 Determining 1041 Estate Expenses Allowed I am really confused with what deductions are allowed to be taken on a Form 1041 Estate Tax Return, where they go on the 1041 and how they should be reported on the K-1 form for the beneficiaries? The Estate is in Wisconsin (2 beneficiaries in Illinois and 1 in Wisconsin)