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Get your taxes done using TurboTax
" Do I file a form 706 for moving that money to my own account?"
Form 706 is primarily used to figure estate and generation-skipping transfer tax, which most likely does not apply in the facts you set forth in your question. Regardless, you would not need to file the form merely because you moved money from one account to another.
See https://www.irs.gov/instructions/i706/ch01.html#d0e137
".... do I file a 1041 form for the estate?"
You would only need to file Form 1041 (income tax return) for the estate if the estate had gross income for the tax year of $600 or more, or a beneficiary who is a nonresident alien.
‎June 1, 2019
1:46 AM