The first months
File an estate income tax return if needed
If the estate earns income after the date of death (interest, rent, capital gains, investment income), the estate itself files a tax return on Form 1041. Small estates often skip this; larger or longer-running ones need it every year until they close.
What you'll need
- The estate's EIN
- Records of income the estate received
Good to know
If the estate earns income, its return is due each year, with penalties for filing late.
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Why we recommend EstateExec
EstateExec's estate accounting keeps the record of the estate's income that this return needs.
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EstateExec
Step-by-step software that guides you through settling an estate, with built-in estate accounting.
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