Strongsilence-C
Level 10
03-13-2022
01:31 PM
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Is Final Year available for a trust 1041 that has not received tax refunds by the year-end date?
CA UPIA doc and the CA 541 instructions are not helpful
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sjrcpa
Level 15
03-13-2022
01:53 PM
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Yes, but will that CA refund be federal taxable income in 2022?
If so, you may not have a final return.
The more I know the more I don’t know.
Strongsilence-C
Level 10
03-13-2022
03:23 PM
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Where did you learn trusts Sjr? I'm going to have more as my clients and their parents are aging.
This CA tax was withholding on Real Estate on Form 593. No tax benefit was obtained.
sjrcpa
Level 15
03-13-2022
05:15 PM
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Mostly learned by doing; working with good attorneys; lots of reading.
Also had a class in Estates, Gifts & Trusts when I got my Masters in Tax many moons ago.
The more I know the more I don’t know.
