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SHESTATE
New Member

Estate filing questions do I need to file 1041

Hello, 

I am trying to figure out if I need to submit a return 1041 for estate that I had to open on my moms house. 

 

She passed last year and I'm the sole heir.   All assets except the house I was listed as a beneficiary so those all went to me really easily and quickly.  Unfortunately the way the will was written I had to go through the courts for the house.   I opened a checking account and sold the house in 2024.   The money was put there and being the sole person, I could empty the account at any time.  The house value at time of death was 225 and I sold it for 225.  I did not make any gains or losses.  Do I need to file and do I just put 0's for everything?

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1 Reply
RobertB4444
Expert Alumni

Estate filing questions do I need to file 1041

Unfortunately, yes.  it's annoying but the only way that the IRS has to know what the basis on the house was is for you to file a return that tells them.  If you don't file the return all that they see is that you made 225K and didn't pay taxes on it.

 

@SHESTATE 

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