Bypass trust and fiscal year

[strongsilence]

I'm still not understanding so please opine. Is anything incorrect in the following?

Taxpayer sets up a bypass trust (long ago)

TP dies in 2025.

Bypass trust becomes irrevocable

and by definition the bypass trust is no longer a QRT (Qualified Revocable Trust)

Therefore, Bypass trust can elect fiscal year when it files the initial 1041...

and does NOT need to file Form 8855.

[sjrcpa]

Trusts must have calendar years.

But, a qualified revocable trust can elect to be taxed as part of the estate. An estate can have a fiscal year.

Form 8855 is required.

[strongsilence]

ok. thank you. This trust is irrevocable.

[BobKamman]

It goes without saying that a qualified revocable trust becomes irrevocable when someone dies, and is therefore eligible to elect to be taxed as part of the estate and with a fiscal year.  But maybe @sjrcpa should have said it anyway. 

I feel sorry for these people who paid a paper mill for an estate plan with a bypass trust back when the estate tax exclusion was $600K, and didn't amend it when they had a chance.  

[sjrcpa]

@BobKamman I'm trying being Graceful.