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Estate & Trust Tax Returns
Form 1041 for estates and trusts, the final return of someone who has died, and guidance for executors and trustees on distributions and K-1s.
What is included
- Final individual return of the decedent
- Estate and trust income tax returns (Form 1041) with K-1s to beneficiaries
- Basis step-up records for inherited property
- Coordination with the estate attorney on timing and distributions
- Reporting of foreign inheritances (see foreign gifts & inheritance)
Who files what
The executor files the deceased person’s final Form 1040, and the estate files Form 1041 for income earned after the date of death. Trusts that earn income file their own Form 1041 every year.
Common questions
Do beneficiaries pay tax on what they inherit?
The inheritance itself is generally not income to a U.S. beneficiary, but income earned by the estate and passed out to you is reported on your return through a K-1.
Tell us your situation. We will tell you the fee.
A few short questions, a written quote within one business day, and a free 15-minute consultation if you would rather talk it through first.