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Filing first trust tax return Expand / Collapse
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Posted 1/6/2010 2:54:20 PM
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Decedent died in Nov 2008. His will created a testamentary trust which was not funded until Aug of 2009. What date should be put on the first 1041 as "Date entity created"?

Should the first return be for 2009 with a created date of Aug 09?

Or should I file a 2009 return with a created date of Nov 08?

Post #870
Posted 1/6/2010 6:05:30 PM
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In California, the testamentary trust is not created until the court orders it created. The date of the court order is the first day of the trust's first tax year.

You also have a probate estate that starts with date of death and lasts until the executor distributes all assets to the beneficiaries, including the testamentary trust.

John Jacobson
Post #871
Posted 1/10/2010 3:15:14 PM
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Often on the initial return - I put "schedule attached" in the spot for the date created and explain that the entity was created as of the date of death but there was no income until it was funded in the current year. In subsequent years, I use the date of death on the return.

Mary Kay Foss
Post #873
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