Do I need to file a 1041 or a schedule K-1?

[nateb92887]

I inherited money from my grandmother's trust when she passed. In order to receive it I had to create a trust and open a bank acct. in the name of the trust. The check I received was then deposited into that acct.

[DianeW777]

It  depends. The filing requirement for a Form 1041 is income earned from the estate, such as interest income, in an amount of $600 or more. If the account opened for the trust did not earn interest, or it was less than $600, and there were no other earnings from the inheritance/trust, then you can include all interest on your Form 1040.

[nateb92887]

So the amount was over the $600. The account the money got deposited into is a checking account, so no interest will be earned.  And this was the only thing I received.

[PatriciaV]

If the trust earned no income from the deposited cash, no Form 1041 needs to filed.