My mother's estate consists primarily of a trust which is generating over $600 amonth. The bank is trustee and I have received a K-1 from from them. I add my share of income from the trust to my own 1040 and pay tax on it. The bank told me they will file any fidicuary tax forms for the trust, which probably don't have to be filed. The only asset in the probate part generating income is the estate checking account which earned $150 last year. Do I have to file the 1041 for the $150? I say no, because it is under the $600 limit. The EIN number of the probate account and trust are different. But I am concerned because both numbers are supposedly linked to her SSN. If the bank files a 1041, then it seems that the $140 should be lumped in with it.
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