No, the form is not required. Form 1041 must be filed when there is income of $600 or more. If the home had been sold then you would have filed to transfer the sale to the beneficiary or beneficiaries. If there is not interest, dividends, or other capital sales then there's likely nothing to report for 2024. You can click the link above for more details. If the home is sold in 2025, it can automatically be claimed on the return of the beneficiaries.
It's important to file the final return of the decedent if there is any taxable income that meets the filing requirement for that person.
2024 Filing Requirements Chart for Most Taxpayers
IF your filing status is. ………THEN file a return if your gross income was at least.
- Single under 65 $14,600, 65 or older $16,550
- Head of Household under 65 $21,900, 65 or older $23,850
- Married Filing Jointly under 65 (both spouses) $29,200, 65 or older (one spouse) $30,750 65 or older (both spouses) $32,300
- Married Filing Separately any age $5
- Qualifying Surviving Spouse under 65 $27,700, 65 or older $29,200
If you were born before January 2, 1960, you're considered to be 65 or older at the end of 2024.
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