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Level 2
posted Mar 25, 2025 1:00:40 PM

1099-int

the estate was closed with a final return in 2021...I recently received a 1099-int for the trust (trust ein) that reflects an award settlement that I received last july 2024 (13K)...I did not distribute it to the benis,(deposited it into the estate acct at the bank) so I assume I need to file a 1041 to pay tax to the irs....do I need to also file a state return (this would be CA 541?)

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1 Replies
Expert Alumni
Mar 25, 2025 2:11:51 PM

Yes, you will need to file a 1041 declaring this income even if the Final Estate return was filed. You will need to file one with the State of California as well.