Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Form 1040 v 1041 for deceased taxpayer

Highlighted
Level 1

Taxpayer died Dec 26, 2019, and had a revocable trust.  There was no income after his date of death.  Can I file Form 1040 for 2019?  I understand I must file Form 1041 for 2020 if the now irrevocable trust has income.

0 Cheers
1 Solution

Accepted Solutions
Highlighted
Level 15

If he had enough income to file a 1040, yes.

ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.

View solution in original post

6 Replies 6
Highlighted
Level 15

If he had enough income to file a 1040, yes.

ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.

View solution in original post

Highlighted
Level 11

It will be interesting to see if his heirs receive a $1,200 EIP.  My guess is that he needed to live another week.  

0 Cheers
Highlighted
Level 1

I guess I could wait a few weeks before filing to see what happens.

0 Cheers
Highlighted
Level 15

I hadn't thought about that situation, until now.


ex-AllStar
Level 11
Level 11

I had read that The stimulus checks are technically an advance of a special tax credit for the 2020 tax year, so if someone passes in 2019 there will be no advance credit.

Highlighted
Level 11

@Terry53029 

You might assume that, and you might be wrong.

The 2020 Section 6428 “Impact” payments are very similar to the 2008 Section 6428 “stimulus payments. Back then, the payments were technically a credit on 2008 returns, but based on data from 2007 returns. IRS issued an FAQ about payments to decedents. This is what it said:

Q. If an individual dies, what happens to his or her direct deposit or stimulus check?

A. Stimulus payments will be issued in the name of the individual eligible for payment on a filed 2007 income tax return or to the account designated by the individual on that return. This includes situations where a person dies after filing a return or where the final 2007 income tax return was filed by a personal representative or surviving spouse. Any issues or concerns involving a decedent's filed return or the related stimulus payment should be addressed by the legal representative of the decedent's estate. See Publication 559 for more useful information for survivors and personal representatives. [Updated 3/17/08]

Here’s a link – I’m not sure why the only surviving version I could find is on their Korean language website (the text is in English).

https://www.irs.gov/ko/newsroom/economic-stimulus-payment-faqs-basic-eligibility

 

0 Cheers