Yes, you must file a Form 1041 by April 18th, 2023, for 2022, if the estate earned taxable income of $600 or more. Exception: If you choose to use a fiscal year which would have to be requested when the application for an Estate ID or EIN was completed.
- An estate does not have to use a calendar year as its tax year. An estate may elect a fiscal year, so long as the ending month of the estate's initial fiscal year must end no later than the last day of the calendar month that is no more than twelve months from the date of the decedent's death.
You do need the social security number of all the beneficiaries when filing the return.
- Instructions for Form 1041
- Penalty. You may be charged a $50 penalty for each failure to provide a required TIN, unless reasonable cause is established for not providing it. Explain any reasonable cause in a signed affidavit and attach it to this return. (See page 41)
@richardaernst
[Edited: 04/08/2023 | 6:04p PST]
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