I would appreciate your help on 2 follow-up questions. For my mom’s estate return, I am planning to select “fiscal year” (i.e., Aug 1,2024 - Jul 31,2025) and not 2024 calendar year.
1) Would your response differ depending on selection of the estate return reporting period?
2) Her trust will continue until I sell her townhome and distribute funds to all beneficiaries, so I expect to file one more 1041 after this initial one. For this initial 1041, for the time period of Jan 1-Jul 31,2025, I don’t expect to receive any 1099s from her bank/brokerage firm/property manager until early 2026. Would I generate 1099s using similar procedure you listed to report the interest/dividends/rental income, or another method?
Thanks for your continued guidance!
