Discussion:Section 645

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Discussion Forum Index --> Advanced Tax Questions --> Section 645
Discussion Forum Index --> Tax Questions --> Section 645

AJTax (talk|edits) said:

11 April 2009
I would like to elect to treat a qualified revocable trust (QRT) as part of an estate.

I have an EIN for the QRT. There is no estate so there is no EIN for the estate. There is no executor. The QRT has a calendar year end.

Can I file the first 1041 tax return with the name of the QRT and the QRT tax ID number, check the "decedent's estate" box and by attaching a Form 8855 filed out with the same exact information as page 1 of the 1041?

Any help would be gretly appreciated.

Kevinh5 (talk|edits) said:

11 April 2009
no, but the trustee can

your job is just to prepare the return

AJTax (talk|edits) said:

11 April 2009
Kevinh5, I appreciate your reply. Please forgive my mis-use of expression "Can I file" with what should have been "Would it be correct if I prepared".

This being the first tax return I am making a 645 election on, I am concerned that I am missing something. Specifically, preparing a Form 8855 with the same information as page one seems odd. However, under the circumstances, since there is no estate it seems like the only thing I can do.

Kevinh5 (talk|edits) said:

11 April 2009
you are correct, and if you stick around here long you will see that everyone gets a little ribbing, so feel welcome

AJTax (talk|edits) said:

11 April 2009
Thanks for the response and the heads up. I don't mind the wise-guy responses as long as I know there coming.

Confidence was low on this one so I was an easy mark.

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