Estate filing timeline

[neilbrink]

Decedent died on Sept 15, 2007 and we need to file a fiscal year 1041. In this case, does the fiscal year end on August 31 or September 30? Also, filing is required within 4 months of the end of the fiscal year, correct?

Thanks in advance. Neil

[taxit]

August 31, 1041 due on December 15,2008

[michaelmars]

you are not required to use an 8/31 year end, thats just the latest you can use. You need to look at the investments and see what year you want the income in etc. before deciding, perhaps a calender year makes more sense [doubt it]

[neilbrink]

you are not required to use an 8/31 year end, thats just the latest you can use. You need to look at the investments and see what year you want the income in etc. before deciding, perhaps a calender year makes more sense [doubt it]

We had already discounted the calander year filing because of the possibily of a final sale of an apartment building and closing of the estate before the end of the fiscal year. Thanks for all your comments.