Question
1041 Estate Tax rates???Estate received $25000 in a 1099-R from a previous employer.Why does the 1041 say that he owes $7602 balance due? That's almost 30%
Thanks is advance.
I do one of these returns every 2 years. So I am flummoxed why the tax rate is so high. I entered the amount on line 8 of the 1041.
This is not a trust and this income is all that it has received since the man's passing in 2021.
The 1099-R is in the name of the estate and not him personally. Even has the correct EIN.
Christopher
I do one of these returns every 2 years. So I am flummoxed why the tax rate is so high. I entered the amount on line 8 of the 1041.
This is not a trust and this income is all that it has received since the man's passing in 2021.
The 1099-R is in the name of the estate and not him personally. Even has the correct EIN.
Christopher
