Yes, you can choose to adopt a fiscal year (FY) accounting period for the estate. As a rule, the estate calendar year starts on the day of the estate owner's death and ends on Dec. 31 of the same year. The executor, however, can file an election to choose a fiscal year, which means the tax year ends on the last day of the month before the one year anniversary of death.
Tax Year Adoption, Change, or Retention - Form 1128
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To request a ruling to adopt, change, or retain a tax year, file Form 1128 by the due date (not including extensions) of the federal income tax return for the first effective year. Do not file earlier than the day following the end of the first effective year. In the case of a change in tax year, the first effective year is the short period required to effect the change.
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IRS Instructions Form 1128
Also you would list the last day of your FY on the Form SS-4, used to apply for the employer identification number (EIN) of the estate. This can be obtained online in minutes.
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