Attorney, Beneficiaries, Distribution Checks, Distributions, estate, Estate Closing, Estate Income Tax Returns, Estate Reserve, Executor, Fiscal Year Returns, Massachusetts Schedule 2K-1, Record Keeping System, Schedule K-1(Form 1041), Short Year Returns, Tax Professional
The time to review and file the estate income tax returns occurred simultaneously with closing the estate. According to the article Closing the Estate: Final Tasks to Close the Estate, on October 29, 2013, I was dealing with the professionals to send a final invoice. On that same day, the fiscal year returns, both federal and state, arrived in the mail for my review. Since the tasks of closing the estate and reviewing the fiscal year returns weren’t burdensome, the timing was fortunate. The arrival of the fiscal year returns would allow me to review and file the returns while closing the estate. So, the only task remaining after closing the estate would be dealing with the short year returns.