My mom put her home in a trust at the end of 2020 with my sister and I as equal beneficiaries. When she passed (which was in 2021), we were to sell the home and split proceeds. The house was recently sold this year. When we opened a trust bank account to put the proceeds in and obtained an EIN, the IRS message stated we had to file a 1041 for 2021 (by the 22nd of this month) even if to show no liability. If the trust bank acct had no proceeds then, and the trust just had her house in it at the time, how do we complete the 1041?
You'll need to sign in or create an account to connect with an expert.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Complexlocal
Level 1
s d l
Level 2
trust812
Level 4
fcp3
Level 3
Complexlocal
Level 1