I am looking at the requirements for filing a 1041 return for a trust.
The fiduciary (or one of the joint
fiduciaries) must file Form 1041 for a
domestic trust taxable under section
641 that has:
1. Any taxable income for the tax
2. Gross income of $600 or more
(regardless of taxable income), or
3. A beneficiary who is a
This year (2010) Wisdom Tree killed one of their funds, and the trust I
am looking at has a loss which will need to carry forward as it's far
greater than the small amount of dividend it received. I've handled the
return for 12 years now, and it's always been positive, a bit of
interest/dividend, maybe cap gain, all flowing to the beneficiary via K-1.
Should I complete the return along with state to document the carry
forward and submit? Or just store them for next year?
- posted 8 years ago
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