Requirement for filing an Estate Form 1041 is Gross Income of $600 or more! If an estate had no interest or dividends or other income except a car was sold for $6000.00 and had a FMV of $7000.00 incurring a loss of $1000.00. Is that $6000 considered gross income even though the transaction is a loss? Trying to determine if a 1041 needs to be completed.
Thanks
