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Recently deceased parent with Trust, how do I do a 1041 with no income or disbursement of money yet
Here is my scenario and I'm getting stuck.
Family member passed away last fall, and they had a revocable trust. I am the successor, and it was executed just before the end of the year. The IRS sent me the SS-4 form with the EIN and instructions to file the Form 1041 by 4/15 this year.
There were very little liquid assets added to the trust, couple thousand dollars from a bank account. The house was in the trust already and it's sitting there getting cleaned out and ready to be sold. I've been using the money from the account to pay the house mortgage until it's sold so the loan doesn't default.
Do I file a 1041 for this year and fill it out with zero income and disbursements or do something to extend it one more year when the trust is closed out? I don't want to upgrade to the business version of Turbo Tax if it just spits out a nearly blank form for me to file.