Thanks for the reply and sending 1041 instructions.
If not the proper procedure, please enlighten me.
For context: there is no executor, a trustee is filing. Form 8855, 1041, and appropriate K-1's filed. TIN for trust obtained, 1041 filed using trust TIN,
IRS 1041 instructions state:
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Item A. Type of Entity. On page 1 of Form 1041, Item A, taxpayers should select more than one box, when appropriate, to reflect the type of entity.
G. Section 645 Election
If a section 645 election was made by filing Form 8855, check the box in item G.See Special Rule for Certain Revocable Trusts under Who Must File and Form 8855 for more information about this election.
Who Must File -> Trust -> Special Rule for Certain Revocable Trusts ->
General procedures for completing Form 1041 during the election period.
If there isn't an executor. If no executor has been appointed for the related estate, the trustee of the electing trust files Form 1041 as if it was an estate. File using the TIN that the QRT obtained after the death of the decedent. The trustee can choose a fiscal year as the trust's tax year during the election period. Be sure to check the Decedent's estate box at the top of Form 1041 and Item G if the filing trust has made a section 645 election. For Item G, the filing trustee must provide the TIN of the electing trust with the highest total asset value. The electing trust is entitled to a single $600 personal exemption on returns filed for the election period.
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So based on the instructions it appears it is ok, if not expected, for an electing trust to tick Item A "decedent's estate" and "complex trust". Or, does the electing trust simply tick the "decedent's estate" box and not the "complex trust" box?
And perhaps more importantly, when someone uses TT Business to complete a 1041 for a trust and they tick Item G box, then it would appear Item A "decedent's estate" check box must be ticked. I then wonder if TT misses an important error check:
If 8855 filed then tick item G and item A decedent's estate (and item A complex or simple trust?).
And then there is the whole $600 vs $100 personal exemption bit.
Appreciate any guidance/help on this.
