The fiduciary of a domestic decedent's estate or trust files Form 1041 to report the following:
- Income, deductions, gains, losses, etc. of the estate or trust;
- Income that is either accumulated or held for future distributions or distributed currently to the beneficiaries;
- Any income tax liability of the estate or trust, and/or
- Employment taxes on wages paid to household employees.
If you are unsure whether you need to file a 1041 tax return, please contact our office for assistance.
Preparation of a 1041 return varies on complexity between $800 and $2,250.