Revocable Living Trust Issues

Jan 31, 2010
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Irrevocable Living Trust Issues

I recently took over a irrevocable living trust and am trying to sort through the mess left by the prior trustee (who died before completing the trust). Anyway, it appears as though only two returns were filed. An opening return in 2001 and a closing return in 2004. Problem is, the trust actually closed in 2009. There was minimal income (bank interest) from 2004 to 2009 and minimal expenses until 2009 when we finalized the trust. Do I need to amend the 2004 return and file for 2005-2009? Or can the beneficiaries "absorb" the minimal income and expenses on their individual returns? I've been advised both ways. Any more thoughts on what I should do? Thanks in advance for your help.
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