https://ttlc.intuit.com/community/retirement/discussion/1041-income/01/3730748#M254311 <P>Is the amount of checking account funds in a decedents account considered income to the decedents' estate checking account on 1041?&nbsp; &nbsp; &nbsp;when a single person dies their checking account is closed and a new estate checking account is created.&nbsp; &nbsp; in the transfer of funds, is that considered income to the estate?</P> Wed, 21 Jan 2026 21:43:12 GMT user17690314532 2026-01-21T21:43:12Z https://ttlc.intuit.com/community/retirement/discussion/1041-income/01/3730748#M254311 <P>Is the amount of checking account funds in a decedents account considered income to the decedents' estate checking account on 1041?&nbsp; &nbsp; &nbsp;when a single person dies their checking account is closed and a new estate checking account is created.&nbsp; &nbsp; in the transfer of funds, is that considered income to the estate?</P> Wed, 21 Jan 2026 21:43:12 GMT https://ttlc.intuit.com/community/retirement/discussion/1041-income/01/3730748#M254311 user17690314532 2026-01-21T21:43:12Z https://ttlc.intuit.com/community/retirement/discussion/re-1041-income/01/3730804#M254323 <BLOCKQUOTE><HR /><a href="https://ttlc.intuit.com/community/user/viewprofilepage/user-id/5940539">@user17690314532</a>&nbsp;wrote:<BR /><P>.....in the transfer of funds, is that considered income to the estate?</P><HR /></BLOCKQUOTE><P>No, the transfer is NOT considered income to the estate for federal income tax purposes.</P> Wed, 21 Jan 2026 22:31:05 GMT https://ttlc.intuit.com/community/retirement/discussion/re-1041-income/01/3730804#M254323 M-MTax 2026-01-21T22:31:05Z