Thanks for the reply.
Understand there are additional complexities, like:
- Separate accounting
- The election is for two years
- If estate chose fiscal year, then at the end of the election period the electing trust will file a final partial year return
- If the trust continues past the electing period, the filing trustee will need to obtain a new TIN for the trust
- At the end of the election period the trust will need to switch to filing on calendar year vs fiscal year
- New TIN must be applied to all remaining trust accounts and transfer of assets performed
And the question remains: during the election period are both the decedent's estate and complex trust check boxes ticked?
Appreciate the help.
