![]() ![]() If the estate is distributed to beneficiaries before it can take in $600 or more of income, and none of those beneficiaries are resident aliens, filing Form 1041 is not necessary. ![]() If you’re the executor of an estate that has $600 or more of income or has a beneficiary who is a resident alien, you must file Form 1041. Or maybe the estate owns stocks that pay dividends. ![]() What are some examples? Maybe the estate includes a property that’s being rented out and so brings in rental income. If the estate that a person leaves behind has income sources, that income will be reported on Form 1041. That’s why the person dealing with the estate of a deceased person will have to file personal income taxes for the deceased and, potentially, estate income taxes, too. In the year of a person’s death, he or she leaves both personal income and, in some cases, estate income. ![]()
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