Estate Taxes reporting house sale

[vze56v6x]

My mom died on 5/28/2021. I was told by this group that when I file the estate taxes I need to file for tax year 2021 assuming I would settle the entire estate by June of this year 2022.

I am in the process of navigating through Turbo Tax Business 2021 and the section where I report the sale of my moms home asks if I sold the house in 2021. 

The house was listed for sale in 2021, entered into contract in 2021 but due to several factors we were unable to close until February 2022.

So how do I report this as I do not see any option other than answering yes or no to the question "Did you sell a home for this estate in 2021?"

Help! 🙂 I spent $160 purchasing the 2021 software and it looks like that was not the right software. I only bought it based on the advice I was given on this site when I asked what tax year I would need to file and I was told 2021.  I tried entering the 2022 date and turbo tax software told  "No Way!"  🙂 

[tagteam · Accepted solution]

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@vze56v6x wrote:

I tried entering the 2022 date and turbo tax software told  "No Way!" 

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The 2021 software is the correct year provided you select a fiscal year that ends in 2022. 

It appears that you selected a calendar year and you simply need to change that to fiscal.

[vze56v6x]

if it asks me when the estate was closed, I selected June of 2022. Is this not correct? I am not sure what year to select since it only asked when I closed the estate.

I chose June 2022 as I distributed all the funs to beneficiaries after the house closed in Feb 2022.

Apart from this, the software did not ask for any dates other than the date my mom died.

I am still confused. :( What date do I need to use. I am flexible with the date as there was not much other than the house sale.

[tagteam]

If this is the initial and final return, then check both of those boxes.

[tagteam]

Also, make sure to enter the date of death of the decedent (note that the fiscal year cannot exceed 12 months).

[SweetieJean]

You refer to them as "estate taxes," but you really mean Estate Income Taxes, right?  Estate taxes are these:

Estate Tax | Internal Revenue Service (irs.gov)

[vze56v6x]

yes estate income taxes form 1041. sorry

[tagteam]