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Level 3
posted Jun 7, 2019 4:15:09 PM

Estate tax return

I am the executor of my late Aunt's estate, the will is still in probate, do I need to file an estate return (not for estate tax the value does not require that)

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1 Replies
Intuit Alumni
Jun 7, 2019 4:15:11 PM

Generally, the fiduciary (executor) must file Form 1041 for a decedent's estate if it has gross income of $600 or more during the tax year or has a beneficiary who is a nonresident alien. 

  • If the estate does have gross income of $600 or more you, as the executor of the estate, will need to prepare a 1041 tax return.  For this you need TurboTax Business.  TurboTax will walk you through the steps of preparing the return.  You can visit the following link to purchase TurboTax Business for 2017: TurboTax Business
  • If the estate does not  have a gross income of $600 or more you don't need to prepare a return for the estate, but the beneficiaries will still have to report their share of the capital gain on their return.  You could just let them know the amount in a letter.