Form 1041 for Irrevocable Trust

[DSM]

My Aunt established an Irrevocable Trust in November 2017 and I am one of the Trustees.  The money placed in the trust account was from her funds and the sale of her home.  All funds owned by the trust are in a checking or savings account.  Am I required to file a 1041 for the Trust?  (fyi: the aunt has not had enough income for several years to require that she file a personal income tax return)

[LudwigVan_fan]

It depends on a number of factors...such as;

The fiduciary(or one of the joint fiduciaries) must file Form 1041 for a domestic trust taxable under section

641 that has:

1.

Any taxable income for the taxyear,

2.

Gross income of $600 or more (regardless of taxable income), or

3.

A beneficiary who is a nonresident alien

See the instructions for Form 1041 for more information

https://www.irs.gov/pub/irs-pdf/i1041.pdf