Thanks for the pointer, but I don't think it applies in this case.
In my case, the estate had no tax due. However, there were other reasons to file a 1041.
- The Decedent had three years of tax refunds due from both IRS and state. I filed for those last year and my understanding is that the state refunds need to be treated as taxable income on the 1041.
- As Executor, I have a strong interest in filing forms 4810 and 5495 to limit the period of time when I might be held personally liable for any errors in the estate's (or the Decdent's) tax filings. My understanding is that I can't file those until after I've filed the "final" 1041, with the "final" box checked.
- The Estate had an operating loss (due to sale of a property at below market value, and attorney fees). Each of the beneficiaries are entitled to a share of that loss if it's still on the books at the time of the estate's final tax return.
Bottom line: I need TT to generate the 1041 and the K-1s, even though there was less than 600 of gross income in the tax year.
