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No 706 was filed as the decedents estate was valued at $1,100,000. DOD 1/3/05. Two of the beneficiaries are skip persons. I am filing a first and final 1041 for trust administration. I realize that the amounts being distributed to the two skip persons are within the lifetime GST Tax Exemption amount, but wondered it there are any filing requirements aside from checking the box that that there are skip persons in the other information section question 9.
Thanks for your help.
Susan E. Cohen
Thousand Oaks, CA
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Susan,
Since the estate is less than the GST exemption, there is no need for any form filing.
BTW, have you selected fiduciary accounting software yet for your firm? If so, I'd like to hear about it.
bill
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Member
 
Group: Forum Members
Last Login: 1/3/2012 10:46:42 AM
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That previous post was by me. But I hadn't noticed that I wasn't logged in, so it appears to be from "anonymous".
bill downs
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Power Member
Group: Forum Members
Last Login: 3/12/2011 12:58:57 PM
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I'm unaware of any filing requirements other than what you've mentioned.
Mary Kay Foss
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