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Deductions & credits
Thank you for your response to my question. I am now working on the 1041 for an Estate and have a follow up question. The instructions say "Enter amounts that were paid for a charitable purpose out of
the estate's or trust's gross income". This confused me since the source of the charitable donation as directed by the Will is from the Assets of the Estate not specifically from "income". I may be overthinking the issue but before I submitted the 1041 I wanted to be sure it was understood the source of the donation is from the "cash" in the Estate Account.....Thank you.
March 7, 2024
5:42 AM