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Question

Form 1041

Forum|Forum|1 year ago
February 3, 2025
1 reply
0 views

I was told to only file interest earned from wrongful death settlement income for my father's estate. No other income to report as no interest earned. Do I have to file a 1041 if no other income to report? If I do have to file, do I include myself as a beneficiary and report non-taxable income to myself (K-1)? I am the executor of his estate, no other beneficiaries.

Not A Product Question

Since you noted the estate has no interest and no other income to report, you may not need to file Form 1041. Filing is required if the estate's gross income is $600 or more. The wrongful death settlement itself is nontaxable.

For more detailed information, you can refer to the IRS guidelines on filing an estate tax income tax return.

SB2025Author

Thank you.