MaryK4
Expert Alumni

Business & farm

It depends- you may (probably) have to include the 1099-C as income for the trust.  You can decide what you want the tax year of the trust to be- it is easiest to use a calendar year but there may be reasons you would use a different tax year.  Estates or trusts must file Form 1041 by the fifteenth day of the fourth month after the close of the trust's or estate's tax year.

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