Ask Terry Questions 1041 Estate Tax Filing

1041 Estate Tax Filing

By Terry Savage on April 02, 2021 | Wild Card

I have 2 estates for individuals who died in 2020 for which I need to file 1041 returns. Both estates will be closed in 2021. I’m assuming I need to file a regular 1040 return for 2020 until their date of death. Do I need to file a 1041 for 2020 and then again for 2021? Thank you.

Terry Says

Honestly, I don’t feel competent to advise you on this. Please see an estate planning attorne4y or CPA who is familiar with this portion of the tax law. But you also might want to read this from the IRS website.

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