kmd
Level 3

After you file

Thank you.  What about the fact that I originally did a 1041 fiscal year?  So, that fiscal year covered the day of my mother's passing (9/16/2020) through 8/31/2021.  So, then can I just out of the blue switch to calendar year 2022?  If I don't taxes are technically late.  So, if I call the time fiscal year 9/1/2021 through 8/31/2022, then the 1041 should have been filed 12/15/2022 for the fiscal year.  Is there then a penalty for them being late?  Should I just switch to a calendar year? 

 

The other complexity - that surprise bank account bled into 2023 - I wasn't able to pull it until the end of January, so there's going to be maybe $40 in interest on a 1099-INT for the trust next year in 2023.  Ugh.  Thing is, I checked "final" on the form for the first one, and now I'm looking at filing two more times?

 

I really don't want to red flag this trust because of this unexpected 1099-INT.  But this must happen to other people where they thought a final 1041 was not final?  Up until now, I was pleased with how smoothly it all went - I filed the 1041, issued K-1s, distributed money, and thought I was done....

 

Thank you,

 

Kathryn [PII removed]