USA Form 1041 Estate Inheritance


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My husband's father had passed three years ago. His daughter managed the estate. It took three years for some real estate to be cleared and for the estate to move forward.

In all of that, my husband also passed away. When my husband's father estated finally cleared, my husband's share of the inheritance was sent to me.
My lawyer made me get an EIN and open an Estate account in his name. I deposited the money in there in 2020. I closed the Estated account after two months.

Here is my question, do I need to fill out Form 1041?
I did not make any income from that money while it was in the Estate Bank account.
It was an inheritance, so I should not owe taxes on that money.
 
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BIG E

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You need the advice of an attorney to read the official documents setting up the assets upon one's death.
No one can honestly give you blind advice over the internet.
 
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I would suggest to do some research or consult a Tax Accountant in the specific country and state that you live if there are any applicable Inheritance or Estate Taxes both for the point when the Estate was transferred from your Husband Father to Husband, and then at the point from your Husband to You. Atleast validate whether such Tax arrangements exist or otherwise - every country and state have their own regulations on this. For example where I live, no such Taxes are applicable. But in the US, such Taxes may exist.
 
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