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1041 final estate return $600 exemption
The estate's final return (fiduciary return, 1041) only has capital gain from sale of decedent's property. IRS rules indicate this qualifies to "stay with the estate" for income tax purposes, with the estate paying the tax due (versus passing along to beneficiaries). But when I check "final return" for the estate, the $600 exemption disappears. This does not square with IRS rules. Is this on TT's bug list to correct?
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‎February 9, 2024
6:14 PM