sjrcpa
Level 15
09-13-2025
06:42 PM
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I hate joint trusts.
You need to read the trust document. What happens upon the first to die? When were distributions made? To whom?
"all of his assets flowed directly to his wife" Probably not if they were in the trust.
A trust return is not the same as an estate income tax return. Although sometimes a trust can elect to be part of the estate. These are 1041s, not 1040s.
A 2024 1040 is also needed to report income while they were alive.
The more I know the more I don’t know.