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Investors & landlords
The issue that that I did not mention is that because we did not open an estate because all of the assets had designated beneficiaries and there were no substantial other assets. In PA, you can handle these type estate in a streamlined fashion without "opening and estate". From what I found during my research you do not have to file a 1041 even though the income is over $600. You are supposed to handle it by addressing the income on the beneficiary's taxes. That is why I was asking what is the easiest way to deal with it on the beneficiary's taxes (after deducting it from my mother's taxes).
March 2, 2025
6:50 PM