Last year I filed Federal 1040 and IL-1040 on behalf of my mother-in-law’s estate. The estate had bond interest income plus expenses such as: propety tax and attorney fees. The bonds were cashed in 2018 and monies were disbursed to the four beneficiaries. In 2018 the only income the estate received is $2.57 from a checking account. Attorney fees and property tax expenses were paid in 2018 from the estate’s checking account. The estate is not closed because the mother-in-law’s home has not been sold. After the sell of the home, the estate will close either this or next month. Are there any advantages to filing estate returns in 2018 that will allow credits/deductions for the beneficiaries on their personal taxes because of the estate expenses in 2018? Is it necessary to file federal and state returns for the estate this year? Thank you for your time and help.
