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September 29, 2024
Question

Final estate tax return filed in 2023. Estate earned $700 interest income in 2024 on final distribution to beneficiaries. Estate tax return required for interest earned?

  • September 29, 2024
  • 2 replies
  • 0 views
$700 interest earned is in a trust account.  I am successor trustee.

2 replies

Employee
September 29, 2024

The estate is required to file a Form 1041 since it received $600 or more in income.

October 2, 2024

TY!  Do I need to obtain an EIN for reporting the $700 interest income?

Employee
October 2, 2024
October 3, 2024

TY so much.  Glad for your support as this is a first time experience.