At the date of death, the estate comes into being. If it has income it must be reported on Form 1041. The estate can elect a fiscal year from October _, 2010 to September 30, 2011 to report income. Alternatively, you could keep it on a calendar year, so the first return would be from October to December 2010. If gross income is greater than $600, a Form 1041 return is required. Pa requires the filing of a Form PA41. There is a skill involved in these returns and the tax planning associated therewith, so get have your estate attorney or a good tax accountant do these returns.
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Mr. Fromm is licensed to practice law throughout the state of PA with offices in Philadelphia and Montgomery counties. He is authorized to handle IRS matters throughout the United States. His phone number is 215-735-2336 or his email address is
[email protected] , his website is www.sjfpc.com. and his blog is
