My mother passed in August of 2023, and her personal taxes were filed in April 2024. I am the administrator of her estate which closed in 2024. I received two tax documents for the estate. a 1099-INT for $1,186.20 for savings bonds that were cashed, and a 1099-DVI for 6.67. Do I need to file taxes, and if so would it be the 1041?
Also, is the only way to do that using turbotax through turbotax for business?
Thank you so much!
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Yes, you will need to file and a 1041 is what you will file. Yes, that is accessed in TurboTax Business.
The fiduciary (or one of the joint fiduciaries) must file Form 1041 for a domestic estate that has: 1. Gross income for the tax year of $600 or more; 2. A beneficiary who is a nonresident alien; or 3. If you held a qualified investment in a QOF at any time during the year, you must file your return with Form 8997 attached. See the Form 8997 instructions. An estate is a domestic estate if it isn't a foreign estate. A foreign estate is one the income of which is from sources outside the United States that isn't effectively connected with the conduct of a U.S. trade or business and isn't includible in gross income.
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