December 2018
Beginner
432 pages
12h 30m
English
Content preview from Estate & Trust Administration For Dummies, 2nd Edition
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Chapter 18
Filing Income Tax Returns for a Decedent, Estate, or Trust
IN THIS CHAPTER
Applying for a Taxpayer Identification Number
Deciding when the decedent’s tax year ends
Determining the decedent’s (and the estate’s) income
Calculating deductions
Tackling Page 2 of Form 1041
For the most part, all income tax returns are alike. Of course, there are differences between preparing (and filing) your own Form 1040 and the decedent’s, which you still must file in order to report income and deductions, up to and including the date of death. And those differences become even more pronounced after you move into income taxation of estates and trusts, where some concepts remain the same but others change.
In this chapter, you discover what’s similar and what’s different with both the decedent’s final Form 1040 and the trust or estate’s Form 1041. We tell you how to stay in the clear with the IRS as you prepare the final year (or maybe two) of the decedent’s personal income tax returns ( ...
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