topic Re: Trust Agreement in Get your taxes done using TurboTax

Trust Agreement

Anonymous — Fri, 21 Feb 2020 21:07:42 GMT

My Mother passed Oct 2019 but no distributions will be made until 2020. Turbo Tax Keeps asking for beneficiaries but there is no distributions until 2020. Do I have to list in 2019?

Can I fill 2020 return along with the 2019 just fixing the heading of the tax years so that I can distribute and get it all done now?

Re: Trust Agreement

Irene2805 — Fri, 21 Feb 2020 21:39:06 GMT

I'm sorry for your loss.

If the estate had more than $600 in income for 2019, you will have to file a 2019 return. List the beneficiaries, even if there were no distributions in 2019. Just list zero for the amount distributed.

To file a 2020 return for the estate, you will have to wait until the forms for 2020 are issued, probably the beginning of next year.

For an estate return you need to use TurboTax Business, which you can purchase and download by clicking this link: TurboTax Business

Re: Trust Agreement

Anonymous — Fri, 21 Feb 2020 21:55:57 GMT

Irene2805

Thank you. There was no income to the trust. I sold her home in 2020. Money went into checking account but it was from me to pay her final expenses.

CKM1