Election to treat Trust as Estate

[Gretel]

Attorney closed Estate after probate was done for one asset that was not titled to RLT. Can I still make the election to treat Trust (now irrevocable) as Estate? There are still assets in the trust not distributed yet but they will be before the 2 year deadline.

[Roland Slugg]

If the Trust has filed a tax return (F-1041) of its own, it is probably too late. If it hasn't, then it may still be possible for the Estate and Trust to make the §645 election, provided that the Court will agree to reopen the probate Estate, and I don't know if that's even possible.

Btw, you don't make the election. The Executor and the Trustee must agree to do that, and then file F-8855.

[Gretel]

Thanks, Roland, no returns filed yet but I am sure the situation does not warrant to re-open the probate estate. Thanks for reference to form F-8855. Some years back "I made that election" but surely can not remember if the form was filed.