Estate Return Question

[Terry D EA]

Form 1041 was filed for 2010 that included all income to the estate. Financial advisor overlooked one investment and my client received a 1099DIV with dividend income to the Estate. If the 1041 filed for 2010 was marked final return, would that return have to be amended to allow the inclusion of the return for this year? The 1099 was issued to the Estate of with the Estate's EIN number as the recipient which leads me to beleive their needs to be another estate tax return completed. Any other way to handle this?

[OldJack]

Form 1041 is like a 1040. If you would amend a 1040 why wouldn't you amend a 1041? The fact that it was marked final is immaterial.

[BulldogTom]

I think he is asking a different question. Are you saying that the 2010 was correct, but should not have been final. There is a 2011 1099DIV that needs to be taken care of on a 2011 1041. So your question really is -- "Do I need to file an amended 1041 that is correct except for the fact that it is marked final - so that I can now file the 1041 for 2011?"

Is that what you want to know? If so, I would say no - just file the 2011 1041.

Tom

Lodi, cA

[Linda Mathey]

Agree with Tom, file the 2011 Form 1041. I doubt the IRS will question it.

[DANRVAN]

I had one that was filed final for three years for one reason or another. In the “final” year some farm program payments were paid and reported to the estate by mistake. Don't worry about it, the door is always open at the IRS when there is income to report.

[Terry D EA]

Tom you definitely explained my question better than I did. That is exactly what I wanted to know. Sometimes I have a habit of not looking at the easy way to handle a situation and think to deeply. I have to agree the IRS probably doesn't care as long as the income is reported. I like Jack's response as well. Common sense and logic would leave one to believe that something marked as "final" is exactly that. But, as has already been established, the IRS doesn't play by the same rules.