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Is selection of an estate tax year of 12/28/2017 to 11/30/2018 valid for date of death 12/28/2017? If so, how do I change the starting year in TT Business 2018 to 2017?

End of first Tax year selected as November 30 2017. So tax year Dec 28 21017 to November 30 2017.  Next fiscal year will be December 1 2018 to November 30 2019.

TT Business 2018 will not allow me to change the "year" entry on form 1041 for the starting date to 2017; it is hardcoded as 2018.  Even the IRS online form will not allow me to change the starting year. 

I am assuming the first year tax period must start on the date of death, meaning can't start on January 1, 2018.

There was no reason/requirement to file a 1041 for the 4 days in 2017 as gross income over that period was 0. The only gross income to the estate was in 2018.

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Is selection of an estate tax year of 12/28/2017 to 11/30/2018 valid for date of death 12/28/2017? If so, how do I change the starting year in TT Business 2018 to 2017?

"Is selection of an estate tax year of 12/28/2017 to 11/30/2018 valid for date of death 12/28/2017?"

It is not valid for a 2018 Form 1041 nor for 2018 TurboTax Business.

The 2018 return (and 2018 version of TurboTax Business) is for calendar year 2018 and fiscal years beginning in 2018 and ending in 2019. See https://www.irs.gov/instructions/i1041#idm139674712965552


For fiscal years beginning in 2017, you need to use the 2017 Form 1041 (in the 2017 version of TurboTax Business).

Note that if the estate was not required to file a return for the 2017 tax year (which appears to be the case), then there is no reason you cannot file a 1041 for the 2018 tax year (i.e., a calendar year beginning 1/1/2018).

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3 Replies

Is selection of an estate tax year of 12/28/2017 to 11/30/2018 valid for date of death 12/28/2017? If so, how do I change the starting year in TT Business 2018 to 2017?

"Is selection of an estate tax year of 12/28/2017 to 11/30/2018 valid for date of death 12/28/2017?"

It is not valid for a 2018 Form 1041 nor for 2018 TurboTax Business.

The 2018 return (and 2018 version of TurboTax Business) is for calendar year 2018 and fiscal years beginning in 2018 and ending in 2019. See https://www.irs.gov/instructions/i1041#idm139674712965552


For fiscal years beginning in 2017, you need to use the 2017 Form 1041 (in the 2017 version of TurboTax Business).

Note that if the estate was not required to file a return for the 2017 tax year (which appears to be the case), then there is no reason you cannot file a 1041 for the 2018 tax year (i.e., a calendar year beginning 1/1/2018).

Is selection of an estate tax year of 12/28/2017 to 11/30/2018 valid for date of death 12/28/2017? If so, how do I change the starting year in TT Business 2018 to 2017?

Please see following relative to a fiscal year spanning tax rate changes
If this posted response is useful to you, please click on the upraised hand in the lower left of this post. Thank you. Scruffy Curmudgeon--PFFM/ IAFF, retired FireFighter/Paramedic - Locals 718/30, Veteran USAR O3 AIS/ASA '65-'67


NOT INTUIT EMPLOYEE
USAR 64-67 AIS/ASA MOS 9301 - O3

- Just donating my time
**Say Thanks by clicking the thumb icon in the lower left corner -it means nothing but makes those than answer feel wanted.

Is selection of an estate tax year of 12/28/2017 to 11/30/2018 valid for date of death 12/28/2017? If so, how do I change the starting year in TT Business 2018 to 2017?

[removed]

If this posted response is useful to you, please click on the upraised hand in the lower left of this post. Thank you. Scruffy Curmudgeon--PFFM/ IAFF, retired FireFighter/Paramedic - Locals 718/30, Veteran USAR O3 AIS/ASA '65-'67


NOT INTUIT EMPLOYEE
USAR 64-67 AIS/ASA MOS 9301 - O3

- Just donating my time
**Say Thanks by clicking the thumb icon in the lower left corner -it means nothing but makes those than answer feel wanted.
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