That’s where I get confused. The IRS instructions say:
“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 tax year;
2. Gross income of $600 or more (regardless of taxable
income)”
So, my trust received some interest in 2023 (<$100), so, by item 1, I have taxable income and therefore need to file 1041. But by item 2, the interest is less than $600, so I don’t need to file 1041. Can you clear that up at all? Thanks.
