Does end date of 1041 short return have to be the end of a month

Matilda · ‎August 8, 2022

I was planning on end date of 7/31/22 for 1041 short return, but the final legal fees did not post as paid from the last of the IOLTA until August 2, 2200. This is the last thing I have to do to close the estate. I know there is no more income coming and all distributions are complete. The estate is complete. Does the return now have to go to August 31? Do I have to wait until September 1 2022 to sign and date and mail this return or can I date it earlier and mail it?

tagteam · ‎August 8, 2022

Tax years end on the last day of the month.

Regardless, you can sign, print and mail the return before it is due.

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Mike9241 · ‎August 9, 2022

you say the payment didn't post until 8/2. do you mean cleared the bank? if so and you actually sent the payment in July then I would use 7/31.

Matilda · ‎August 11, 2022

The money was in the IOLTA trust for the estate so it was paid by the trust. The invoice is dated earlier but Aug 2 is the day it was paid by the trust (the lawyer's book keeper did this). I funded the trust when I first hired the lawyer a couple years ago.

Matilda · ‎August 14, 2022

Just to be sure - I can sign and date my return 8/15/22 and put the end of the fiscal year on the top of the form as 8/31/22?

tagteam · ‎August 14, 2022

Yes. You are simply signing the return and filing it prior to the due date.

Matilda · ‎August 15, 2022

Thank You.

Does end date of 1041 short return have to be the end of a month

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