I have an administrative trust that is on extension. We are electing via Form 8855 to have the trust be treated as an estate so that we can show the charitable deduction for the set aside amount and zero out taxable income. The beneficiary of the administrative trust is a charitable trust which has not yet been funded.I am confused about filing a Form 1041-A. Is it required? Do I put the same information for income and deduction as is shown on the 1041. If the 1041-A is required, do I create a balance sheet on page 4 using the amounts of the administrative trust?
And, since I did not prepare an extension for the 1041-A, has anyone had positive experience in avoiding the penalty for late filing?
