CA 541 and IRS F-56 for Estate

Forum|Forum|1 year ago
March 16, 2025
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Hello! I have a few simple questions regarding required forms for estates.
I am the executor for an Estate doing the initial & final return as one.

Do I need to fill out another F-56 at the end of the year to Terminate my role as executor? Or do I just leave it be, and mark "final" on the 1041 and 541, and never have to do anything again?

Lastly, the Estate passed on all its income ($100k on 1099-R) to the Trust via a K-1, so no taxes will be due for the estate, does that sound right?

But does a CA 541 still need to be fill out? Because a CPA recommended a 1041 but not a 541...

Thank you!!

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Best answer by RobertB4444

Marking 'Final' on your return handles everything for tax purposes. Another F-56 isn't necessary. Although you should note that you're still the executor if any future debts to the estate show up.

If all of the income was transferred to the trust then you are good on the estate return. It should owe and receive zero.

You do have to file the California return if you are located in California. That is how California knows that you don't owe them any money either.

@merlin00

RobertB4444Answer

Marking 'Final' on your return handles everything for tax purposes. Another F-56 isn't necessary. Although you should note that you're still the executor if any future debts to the estate show up.

If all of the income was transferred to the trust then you are good on the estate return. It should owe and receive zero.

You do have to file the California return if you are located in California. That is how California knows that you don't owe them any money either.

@merlin00

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