Irrevocable Trust with 645 Election

[ea_rva aka acctgtaxmatters]

Filing a 1041 for a revocable trust that became revocable when decedent passed on 10/16/24

We filed a 645 election to combine estate + trust 1041 filing + to elect fiscal year.

Return due 01/15/25.

All assets distributed.

I have trust name and EIN for name of 1041

Section A: I have checked “Decedent’s estate” + DOD

Section F: initial return and final return

Section G: checked section 645 election & used trust tax EIN

Needing to confirm this is correct.

Thank you!

[BobKamman]

Read the 1041 instructions.  Use the estate EIN.  You should have a new EIN for the trust; it goes on Item G, under the name and address on the 1041. 

[sjrcpa]

@ea_rva aka acctgtaxmatters You're filing it now? Look up the time allowed for making the election.

Or, you already filed and IRS has a problem?

[ea_rva aka acctgtaxmatters]

Return due date is 01/15/26 not 01/15/25 (typo above). We filed 8855 in Oct 2025. DOD Oct 2024. So I think all is good here correct?

So the name on the 1041 should be the name of the trust and the estate's EIN?

Then Section G should be the trust EIN?

[BobKamman]

The name on the 1041 is the estate.  

[sjrcpa]

The 645 election = Trust electing to be treated as part of the Estate.

[ea_rva aka acctgtaxmatters]

Thank you both.

The "trust" held the deceased assets as a result of the her spouse passing away. So that is why I used the trust name, EIN on the return as well as under Section G. Deceased claimed all income under the trust on her 1040 (by another tax preparer).

We filed the 8855 to elect the fiscal year election.

Does any of this change having the return in the name of the trust vs estate?

[BobKamman]

You want to eat your cake and have it too.  "Please, IRS, let me file a fiscal-year return.  I know I can't do that as a trust, but I know you'll let me do it as an estate, as long as I file this form agreeing to let the trust be considered part of the estate.  Yes, I know the estate doesn't have any assets, they're all in the trust, but I really want to use that fiscal year.   I have it in my mind that I am filing a trust return, so please don't tell me I'm filing an estate return just because that's what I applied to do."

[Ephesians3-14]

Does the Form 8855 need to be filed in advance or filing the Form 1041 or can it just be attached?

[sjrcpa]

Read the 8855 Instructions.

[ea_rva aka acctgtaxmatters]

Thanks @BobKamman and @sjrcpa for all the feedback. I took all into consideration. I may have not filed 8855 timely,,,wondering if it needed to be submitted by first deadline of 04/15/25 prior to making the 645 election as fiscal year (I filed in Oct 2025 prior to submitting the first fiscal year return). I have filed fiscal year 1041's before, first and final, without 645 and it all worked out with no issues.

Happy holidays to you all!

[sjrcpa]

Was the 1041 extended?

[Ephesians3-14]

As an FYI…

Form 8855 must be filed by the due date (including extensions) of the first income tax return