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Wickedgoodtax
Returning Member

Form 1310 for revocable trust

What do I need to file with form 1310 for a revocable trust which my brother and I are executors for?  I don't have a certificate from the court, but we are appointed personal representatives per the trust. I did file my dad's will with the state of Massachusetts.  Do I have to send a copy of the trust document? with form 1310?

Thank you for your help!

7 Replies
tagteam
Level 15

Form 1310 for revocable trust

You will most likely need to file a Form 1041 for the trust since the revocable trust became a separate taxpaying entity upon the death of your dad. 

 

See https://www.irs.gov/instructions/i1041#idm140229124997744

 

However, the 1310 should be filed with your dad's individual income tax return if a refund is due. You do not need to send a copy of the trust document.

Wickedgoodtax
Returning Member

Form 1310 for revocable trust

Great thank you for your help!

Wickedgoodtax
Returning Member

Form 1310 for revocable trust

OK one more question about the 1041 for the trust.  The trust did get a separate taxpayer ID when my dad died(it included his checking and savings account only), but the 1099's for the interest came with his taxpayer id (for the whole year of 2020, he died in May).  What would I use as income for the trust with the new tax id (I have no forms that indicate income)?  Based on the forms rec'd for 2020, I figured I wouldn't have to file a 1041 until next tax year?

tagteam
Level 15

Form 1310 for revocable trust

@Wickedgoodtax 

 

You need to get an EIN for the trust and you can do so online.

 

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

 

You would divide the income between the trust and your father while he was alive (on his 1040). Any income that was credited to the account after death would be reported on the 1041. 

Wickedgoodtax
Returning Member

Form 1310 for revocable trust

even if the interest is less than $600.00? (interest from June to December 2020 was less than $100.00 for the combined savings & checking accounts.

Thanks again!

tagteam
Level 15

Form 1310 for revocable trust

That does not even exceed the trust exemption for a complex trust (i.e., a trust whose governing instrument does not require that all income be distributed currently) so I am not sure it makes any difference whatsoever as to how that is reported.

Wickedgoodtax
Returning Member

Form 1310 for revocable trust

Thank you! you have been wonderfully helpful!

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