Discussion:Section 645
From TaxAlmanac
| Revision as of 20:21, 11 April 2009 JAD (Talk | contribs) (Kevin, don't you) ← Previous diff |
Revision as of 20:23, 11 April 2009 JAD (Talk | contribs) Next diff → |
||
| Line 20: | Line 20: | ||
| {{ForumReplyPost|UserID=Kevinh5|Date=11 April 2009|Text=you are correct, and if you stick around here long you will see that everyone gets a little ribbing, so feel welcome}} | {{ForumReplyPost|UserID=Kevinh5|Date=11 April 2009|Text=you are correct, and if you stick around here long you will see that everyone gets a little ribbing, so feel welcome}} | ||
| - | |||
| - | {{ForumReplyPost|UserID=JAD|Date=11 April 2009|Text=Kevin, don't you think that part of that includes bringing this election to the attention of the trustee? It is part of the tax return. | ||
| - | |||
| - | AJTax, I'd give you detailed information, but I do so few of these that anything I say would be suspect. There's information out there. Obviously check the Code. The Regs should tell you how to make the election. You can also look to form instructions. There's a box on p 1, item G of the 1041 re the 645 election, and you can probably find direction to additional information and discussion in the form instructions for that item. | ||
| - | |||
| - | Good luck.}} | ||
Revision as of 20:23, 11 April 2009
Discussion Forum Index --> Advanced Tax Questions --> Section 645
Discussion Forum Index --> Tax Questions --> Section 645
| 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. | |
| 11 April 2009 | |
| no, but the trustee can
your job is just to prepare the return | |
| 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. | |
| 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 | |
