Crank Posted February 15, 2010 Report Share Posted February 15, 2010 This is my first encounter with an estate and I think I am on the right track but would like some input please. I have a client who's mother passed away very early in 2009. Client is the executor and when he closed out her bank accounts and got the "date of death" statement the bank automatically provided him with a TIN and a checking account for the estate. The mother had very little in assets and the bank closed the checking account for inactivity (without notifying the client) in September of 2009. The was nothing earned by the estate and the checking account had a $0 balance the entire time it was open. I don't believe a 1041 needs to be filed. If I am reading the instructions correctly it only needs to be filed if the estate had over $600 of income. But what about the open TIN? Is the IRS expecting something since the TIN was established? Does the client need to file something to "close out" the TIN? Also, on filing the client's mother's 1040 for 2009 the tax documents have the address she resided at, can I put the client's address on his mothers 1040? Will this cause a problem since the addresses will be different? Thanks in advance for your help on this matter. Quote Link to comment Share on other sites More sharing options...
Kea Posted February 15, 2010 Report Share Posted February 15, 2010 I believe you are correct about not filing a 1041, but I'll leave that to the experts (I've only filed one before & will most likely file 2 this year.) Changing the address on Mom's return to your client's is correct. You want it to have the address the IRS will use for future correspondence. My father passed away early last year & I filed his regular 2008 1040 with my address. I have a feeling his 2009 1040 & 1041 will end up on extension. Good luck. Quote Link to comment Share on other sites More sharing options...
Crank Posted February 15, 2010 Author Report Share Posted February 15, 2010 Thank you Kea! My condolences on your fathers passing. Quote Link to comment Share on other sites More sharing options...
Kea Posted February 16, 2010 Report Share Posted February 16, 2010 I'm glad I could help. & thanks for the condolences. Quote Link to comment Share on other sites More sharing options...
Crank Posted February 16, 2010 Author Report Share Posted February 16, 2010 Can any of the 1041 experts here confirm that I am correct in not having to file it in this case? Comment on the open TIN also please. TY Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted February 17, 2010 Report Share Posted February 17, 2010 No need to file a 1041 when there is no income. You could, if you are worried about the TIN, go ahead and file a zero 'final' 1041. Quote Link to comment Share on other sites More sharing options...
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