Per client, all distributions were made an a Final Irrevocable Trust in 2018. Lo and Behold, we got a 1099-Int, 1099-Div and a 1099-B for the trust in 2019. Do I need to amend 2018 to remove the "Final" status. Then file a Final 2019?
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Noel
"Some cause happiness wherever they go; others, whenever they go."- Oscar Wilde -
I efiled a "final" 1041 some years ago. The next year the trust got a 1099 for whatever. I then efiled another "final" 1041. The benes got their K-1's. IRS got the 1041 and IRS never said boo. -
Agreed. You do not need to amend 2018 just to remove the Final status. Evidently, income came in in 2019. (If it was disbursed within the 65 days after the end of the tax year 2018, the executor could have elected to add it to the 2018 return.)Last edited by Burke; 02-27-2020, 06:09 PM.Comment
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I’ve been told the same by IRS agents at PPS; filing a subsequent return after marking the entity (business in this case) return as Final will “turn on” the filing requirement. Simply file a 2019 return and mark it Final...again, as you did for 2018, and that should solve the issue.Circular 230 Disclosure:
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