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Is 1041 Fiduciary Return required?

Court appointed mother as Guardian of Minor's Estate fbo daughter (six years old). Her ex husband died in car accident and left daughter $750k in life insurance. An account was opened by mother with Ameritrust in the name of "daughter's name" (minor) Guardianship "mother's name" Guardian.

1) Is a 1041 required for the taxable interest, div, etc. or does this all flow through to the mother's return since she is the guardian?

2) If to mothers return, would kiddie tax come into play?

As always, thanks in advance for your help.


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2 Comments 2
Level 15
Level 15

Sounds like the money is in an account in the kids name/SSN, not the name of the estate so no 1041 would be needed.

I dont see it often, so you'll have to look it up, as to how much unearned income a child can earn and report on the parents return, or whether they need to file their own return for it.

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Level 3

I have seen Ameritrust prepare needed tax filings for certain trusts. Check with them about necessary trust filings.

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