We have an irrevocable trust that will be closing soon. The IRS requires a return within 3 1/2 months. We can't get 1099s until next year. How do we file?

[wdolson11]

This is from our parents' estate.  The trust generates income that was used to pay for my father's care.  Financial institutions send out 1099s at the beginning of the year for the previous year, but we'll be closing the trust in April.  The IRS says a final return is due in 3 1/2 months.  How do we file without the 1099s?

[M-MTax]

What are the 1099s for? You must have some idea where the income is coming from, whether it's from a bank or brokerage firm or wherever......go by what's on the statements. Trusts also normally use a calendar year as their tax year so you can conceivably wait and file for the entire 2021 tax year. You can also get a 6 month extension by filing form 7004.

[ThomasM125 · Accepted solution]

I assume the 1099 forms are reporting interest, dividends and investment sales. If so, you can extract that information from the quarterly reports that the broker can make available to you. You can compare the actual forms when you receive them with the tax return filed and if there was any material incorrect entries on the tax return, you can amend it.  

[wdolson11]

Thanks, yes the 1099s are from dividends and other investment income.