1041 income

[user17690314532]

Is the amount of checking account funds in a decedents account considered income to the decedents' estate checking account on 1041?     when a single person dies their checking account is closed and a new estate checking account is created.    in the transfer of funds, is that considered income to the estate?

[M-MTax · Accepted solution]

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@user17690314532 wrote:

.....in the transfer of funds, is that considered income to the estate?

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No, the transfer is NOT considered income to the estate for federal income tax purposes.