Scott G1
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The only reason for the 1041 would be the fact that I had to create an EIN # for it notifying the IRS of it's existence. If I do not file a 1041 noting "final r...
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It sounds like I will still need to fill out a 1041 for the trust bank account that was opened and closed in 2024 but because all distributions to beneficiaries...
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That would make sense for a house. This situation is strictly limited to the trust ONLY distributing life insurance proceeds to the beneficiaries. Nothing else ...
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It will be clearly noted in several ways for tax season. Also there will be 7 total transactions for the 2 month or so life span of this Trust bank account befo...
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I agree that the best / cleanest way to handle this would have nothing but the Life Insurance Benefit money in the Trust account but that was not really possibl...
Activity Feed for Scott G1
- Posted Re: Life Insurance with only beneficiary of a living trust where beneficiaries are listed... on Retirement tax questions. June 14, 2024 9:58 AM
- Posted Re: Life Insurance with only beneficiary of a living trust where beneficiaries are listed... on Retirement tax questions. June 14, 2024 4:57 AM
- Posted Re: Life Insurance with only beneficiary of a living trust where beneficiaries are listed... on Retirement tax questions. June 13, 2024 9:51 AM
- Posted Re: Life Insurance with only beneficiary of a living trust where beneficiaries are listed... on Retirement tax questions. June 13, 2024 8:31 AM
- Posted Re: Life Insurance with only beneficiary of a living trust where beneficiaries are listed... on Retirement tax questions. June 13, 2024 5:34 AM
- Posted Life Insurance with only beneficiary of a living trust where beneficiaries are listed... on Retirement tax questions. June 13, 2024 4:22 AM