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What form do I file for settling the estate of a deceased person?

Forum|Forum|7 years ago
June 4, 2019
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I am the executor of my mother's estate. All property has been sold, probate is finished, and I want to settle the estate

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Best answer by PrinceA

here's a link that will further assist you from the IRS.

https://www.irs.gov/businesses/small-businesses-self-employed/deceased-taxpayers-probate-filing-esta...

here's a link that will further assist you from the IRS.

https://www.irs.gov/businesses/small-businesses-self-employed/deceased-taxpayers-probate-filing-esta...

Employee

From a federal tax perspective, there are two tax returns to be aware of:

You should prepare a final tax return for your mother, reporting all her income and deductions before her death.
The fiduciary (or one of the joint fiduciaries) must file Form 1041 for a domestic estate that has:
1. Gross income for the tax year of $600 or more, or
2. A beneficiary who is a nonresident alien.

You will likely need to file state income tax returns for your late mother and her estate as well.

Besides income taxes, you may be obligated to file a state inheritance or estate tax return. If your mother's estate is valued at over $5.49 million, a federal estate tax return may also be required