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Level 2
posted Dec 28, 2022 8:55:58 AM

Trust Filing when primary beneficiary dies

I am the trustee of my sister's trust and she passed away at the end of May, 2022.   Can I report all of the trust income for 2022 on her final tax return, or do I need to know exactly how much was earned before her date of death?   Or can I just use the total 2022 income amounts and use a percentage (5/12) to report on her K-1 and the rest reported on her daughters(new beneficiary of the trust) K-1?

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1 Best answer
Level 15
Dec 28, 2022 9:25:13 AM

@RSReeb wrote:

do I need to know exactly how much was earned before her date of death? 

I am sorry for your loss. You need to know exactly how much was earned and then report that figure on her final return. The amount of income should not be difficult to determine through examining statements from financial institutions.

1 Replies
Level 15
Dec 28, 2022 9:25:13 AM

@RSReeb wrote:

do I need to know exactly how much was earned before her date of death? 

I am sorry for your loss. You need to know exactly how much was earned and then report that figure on her final return. The amount of income should not be difficult to determine through examining statements from financial institutions.