Since the revocable trust's grantor has passed, the trust became irrevocable, so not a Grantor Trust type? And type of Decedent's estate seems for when all assets not in Trust? And is it correct that a separate 1041 for Deceased estate would not be needed with no income outside of trust?
You can treat a qualified revocable Trust as part of an Estate using form 8855. I'm trying to complete this 1041 and running into problems with the questions and not being able to get answers to the question: How do I file this 1041 for BOTH the estate and the trust?
Can anyone point me in the right direction?
Thanks. I do realize it's one return, and all my research says the 645 election is what I want to do.
I've done a lot of reading and studying since posing this question, and the fact that you gave me the answer I needed (and had found out in other places as well) makes me more certain about it. You said I am to file the estate return with the trust tacked on. That gives me the starting point that is NOT explained in the Turbo Tax return. Start with the estate, or start with the trust? Your answer and further reading answered that question.
So, again, thank you. (I know some of this may seem simplistic to some of you, but sometimes all we need is the nudge in the right direction.)
I've seen a lot of discouragement from TurboTax reps in "DIY" opting for IRC Sec 645, via Form 8855, and I wonder if that's because TurboTax Business is riddled with errors and just a very poor tool for anything beyond bare bones 1041 filing?
I've found the 1041 software buggy, even for the very basic grantor's trust - from major function down to nits like spelling errors.
I'm working on my simple 1040 now, trying to import interest from Ally Bank, and TurboTax failed to import - it picked up one of my accounts but not the other two, causing my 1099-INT to be under-reported - just another example of why I chose "riddled with errors".....an egregious error and one that TurboTax management blatantly ignores, apparently. I'm not the only one who has hit this problem - https://ttlc.intuit.com/community/taxes/discussion/turbotax-is-only-importing-half-of-my-ally-bank-1099-int-s-available-when-i-compare-them-with-the/00/99678/highlight/true/page/4 I am losing faith in TurboTax after being a customer 10+ years.