Final estate tax return filed in 2023. Estate earned $700 interest income in 2024 on final distribution to beneficiaries. Estate tax return required for interest earned?

$700 interest earned is in a trust account. I am successor trustee.

posted

Connect with an expert

5 Replies

Final estate tax return filed in 2023. Estate earned $700 interest income in 2024 on final distribution to beneficiaries. Estate tax return required for interest earned?

The estate is required to file a Form 1041 since it received $600 or more in income.

Final estate tax return filed in 2023. Estate earned $700 interest income in 2024 on final distribution to beneficiaries. Estate tax return required for interest earned?

TY! Do I need to obtain an EIN for reporting the $700 interest income?

Final estate tax return filed in 2023. Estate earned $700 interest income in 2024 on final distribution to beneficiaries. Estate tax return required for interest earned?

Yes, you will need an EIN for the estate.

https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-n...

Final estate tax return filed in 2023. Estate earned $700 interest income in 2024 on final distribution to beneficiaries. Estate tax return required for interest earned?

TY so much. Glad for your support as this is a first time experience.

Final estate tax return filed in 2023. Estate earned $700 interest income in 2024 on final distribution to beneficiaries. Estate tax return required for interest earned?

You are most welcome.

Still have questions?

Make a post

Manage cookies

Expert does your taxes

Do it yourself

Resources

Support

Expert does your taxes

Do it yourself

Resources

Support

Final estate tax return filed in 2023. Estate earned $700 interest income in 2024 on final distribution to beneficiaries. Estate tax return required for interest earned?

Final estate tax return filed in 2023. Estate earned $700 interest income in 2024 on final distribution to beneficiaries. Estate tax return required for interest earned?

Final estate tax return filed in 2023. Estate earned $700 interest income in 2024 on final distribution to beneficiaries. Estate tax return required for interest earned?

Final estate tax return filed in 2023. Estate earned $700 interest income in 2024 on final distribution to beneficiaries. Estate tax return required for interest earned?

Final estate tax return filed in 2023. Estate earned $700 interest income in 2024 on final distribution to beneficiaries. Estate tax return required for interest earned?

Final estate tax return filed in 2023. Estate earned $700 interest income in 2024 on final distribution to beneficiaries. Estate tax return required for interest earned?

Get more help

Do you have a TurboTax Online account?

Final estate tax return filed in 2023. Estate earned $700 interest income in 2024 on final distribution to beneficiaries. Estate tax return required for interest earned?

Do you have an Intuit account?

Final estate tax return filed in 2023. Estate earned $700 interest income in 2024 on final distribution to beneficiaries. Estate tax return required for interest earned?

Final estate tax return filed in 2023. Estate earned $700 interest income in 2024 on final distribution to beneficiaries. Estate tax return required for interest earned?

Final estate tax return filed in 2023. Estate earned $700 interest income in 2024 on final distribution to beneficiaries. Estate tax return required for interest earned?

Final estate tax return filed in 2023. Estate earned $700 interest income in 2024 on final distribution to beneficiaries. Estate tax return required for interest earned?

Final estate tax return filed in 2023. Estate earned $700 interest income in 2024 on final distribution to beneficiaries. Estate tax return required for interest earned?

Get more help

Related Content

Thank you for helping us improve the TurboTax Community!

Sign in to Turbotax

File your taxes, your way

Access additional help, including our tax experts

Post your question

Connect with an expert