My father had a Revocable Trust with my brother and sister and myself as beneficiaries. He passed away in January of 2019. The Estate consisted of one rental property and a limited Bond portfolio and some savings.
I am planning on filing an initial 1041 for the trust to report the rental income and portfolio Dividends etc..
question, if the trust with it's own EIN number files the 1041 is there any tax liability for the beneficiaries?
The only distribution from the estate in 2019 was Estate Corpus.
The Estate will be settled in 2020 and a final 1041 prepared next year.
