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MignonS
New Member

Do I need to file estate income tax

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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1 Reply

Do I need to file estate income tax

Yes, you will need to file and a 1041 is what you will file. Yes, that is accessed in TurboTax Business.

 

Who Must File 

Decedent's Estate 

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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