Catherine Posted March 3 Report Posted March 3 I am probably over-thinking this. Elderly couple died in 2023; he in mid-year, she just before the end of December. No trouble with 2023; it was too late in the year for anything to go anywhere but personal. There were EINs set up for her irrevocable trust and for her estate. Not for his; it all went to her as surviving spouse. She inherited everything from him when he passed. She also had a will that directed everything owned be poured-over into her irrevocable trust as soon as she passed on. However, as various monies came in, some had checks made out to her, some to him, some to the estate, and some to the trust - which eventually, but not initially, sucked it all in. What I'm thinking is that everything that came in for her, or him, or the estate, gets reported on a 1041 for the estate, and only things that came in specifically for the trust get reported on a 1041 for the trust. If only to prevent letters in July of 2026, asking for tax on unreported income received by the estate. Anyone want to tell me what I've got 100% wrong? I'm listening. Quote
Slippery Pencil Posted March 4 Report Posted March 4 You can make an election for the trust to be treated as part of the estate. Usually makes things way simpler: one 1041 for both, pick a fiscal year. 3 1 Quote
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