Generally, the fiduciary (executor) must file Form
1041 for a decedent's estate if it has gross income of $600 or more
during the tax year or has a beneficiary who is a nonresident alien.
- If
the estate does have gross income of $600 or more you, as the
executor of the estate, will need to prepare a 1041 tax return. For
this you need TurboTax Business. TurboTax will walk you through the
steps of preparing the return. You can visit the following link to
purchase TurboTax Business for 2017: TurboTax Business
- If
the estate does not have a gross income of $600 or more you
don't need to prepare a return for the estate, but the beneficiaries will
still have to report their share of the capital gain on their
return. You could just let them know the amount in a letter.
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