Solved: A person passed away in Aug. 2016. In Feb. of 2017 the persons home was sold for $120,000 minus fees. Should I file a 1041 for 2016 or 1041 for 2017?
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A person passed away in Aug. 2016. In Feb. of 2017 the persons home was sold for $120,000 minus fees. Should I file a 1041 for 2016 or 1041 for 2017?

The estate has no income and legal and medical expenses were paid by the estate.

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Level 15

A person passed away in Aug. 2016. In Feb. of 2017 the persons home was sold for $120,000 minus fees. Should I file a 1041 for 2016 or 1041 for 2017?

The 1041 should include all income or deductible expenses from date of death. 

 A 1041 return can be on a fiscal year, So you can have a 1041 for August to July 31, 2017.  This is the return the house sale should be on.

If there is an attorney involved with the Estate, I would discuss this with them. 

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Level 15

A person passed away in Aug. 2016. In Feb. of 2017 the persons home was sold for $120,000 minus fees. Should I file a 1041 for 2016 or 1041 for 2017?

The 1041 should include all income or deductible expenses from date of death. 

 A 1041 return can be on a fiscal year, So you can have a 1041 for August to July 31, 2017.  This is the return the house sale should be on.

If there is an attorney involved with the Estate, I would discuss this with them. 

View solution in original post

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