Does Trust need to file 1041 form on total earnings of $1103

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Question,

I'm the executor of a fairly simple irrevocable Trust.

The Trust has all of it's money in savings and checking accounts, no other investments.
Total interest earned for the year 2020 was $1103.
The only deduction is real estate tax of $2736, for the house that is held in a Real Estate Trust
This results in an adjusted total income , actually a loss, of -$1633

QUESTION - do we need to file a 1041 Federal Tax return based on the amount of income earned in 2020 ?
 

BIG E

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Trusts:•Any taxable income,
or•Gross income of $600 or more,

Since interest income exceeded $ 600 - you must file.
 

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