Hello,
My recently deceased father had a revocable trust that became irrevocable when he died. I am both the sole trustee and the sole beneficiary. He didn't have enough money to really warrant a trust, but somebody sold him a package deal back in 2004. The new irrevocable trust had about $800 in dividends & interest in 2024, to give you some idea. I'd like to do it myself instead of consulting a tax professional, at least for 2024, since the stakes are really very low here.
First question: I'm not quite clear on if it's the same old trust with new status & trustee, or an entirely new entity, since now it has it's own EIN, where it used to operate under my father's SSN. So is the date the trust created still the one in 2004, or when my father passed in 2024?
Second question: The "tax year" in TurboTax business would just be "short year", correct? From the month of my father's passing? Dad's tax year was always calendar year.
Pretty basic questions. Thanks for your help!
