One would assume the car will be sold for a loss or at the basis of fair market value when it transferred to the trust, so there woud not likely be any gain on it's sale. You don't need to file a federal trust return if the trust income is under $600, so the answer is no as far as the federal trust return is concerned. It seems you do have to file a trust return in Illinois if you have any trust income, but the car sale will likely not generate a gain, so it's not likely you have to file an Illinois trust return either. The $600 in checking is not income, so that wouldn't count.
@JenHusk
{edited 3/13/23 at 4:30 PM PST}
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