My dad passed away in November 2023. I am executor for his estate. I filed his 2023 tax return last year. I am in the process of filing estate filing, 1041.

[chicago_6]

The vast majority of the assets have been distributed to the beneficiaries. I left less than $10k in a savings account for possible surprises. The account draws less than .50 per month. My question is can I file the 1041 as final? My plan would be to distribute the remaining funds in the next few months. Thanking you in advance.

[M-MTax]

The final return is filed when the assets have been distributed and only a small amount is retained for expenses. 

Having said that, it would be fine if the assets will be distributed shortly after the return is filed.

[ThomasM125]

As long as the income of the Trust will be under $600 next year, you should be fine marking the return as final. That is the minimal amount of income below which you are not required to file a trust tax return.

[M-MTax]

It's an estate, not a trust and it would be difficult to imagine a scenario where all of the estate assets had been distributed but there was also more than $600 of income the following tax year.