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Matilda
Level 3

Does end date of 1041 short return have to be the end of a month

I was planning on end date of 7/31/22 for 1041 short return, but the final legal fees did not post as paid from the last of the IOLTA until August 2, 2200.  This is the last thing I have to do to close the estate.  I know there is no more income coming and all distributions are complete.  The estate is complete.  Does the return now have to go to August 31?  Do  I have to wait until September 1 2022 to sign and date and mail this return or can I date it earlier and mail it?

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Accepted Solutions
tagteam
Level 15

Does end date of 1041 short return have to be the end of a month

Tax years end on the last day of the month.

 

Regardless, you can sign, print and mail the return before it is due.

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6 Replies
tagteam
Level 15

Does end date of 1041 short return have to be the end of a month

Tax years end on the last day of the month.

 

Regardless, you can sign, print and mail the return before it is due.

Mike9241
Level 15

Does end date of 1041 short return have to be the end of a month

you say the payment didn't post until 8/2. do you mean cleared the bank? if so and you actually sent the payment in July then I would use 7/31. 

Matilda
Level 3

Does end date of 1041 short return have to be the end of a month


The money was in the IOLTA trust for the estate so it was paid by the trust.  The invoice is dated earlier but  Aug 2 is the day it was paid by the trust (the lawyer's book keeper did this).  I funded the trust when I first hired the lawyer a couple years ago.

Matilda
Level 3

Does end date of 1041 short return have to be the end of a month

Just to be sure - I can sign and date my return 8/15/22 and put the end of the fiscal year on the top of the form as 8/31/22?

 

 

 

tagteam
Level 15

Does end date of 1041 short return have to be the end of a month

Yes. You are simply signing the return and filing it prior to the due date.

Matilda
Level 3

Does end date of 1041 short return have to be the end of a month

Thank You. 

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