Reminders

Review a copy of the will or trust instrument, including any amendments or codicils, before preparing an estate’s or trust’s return.

Qualified Opportunity Investment. With the exception of grantor trusts, if you held a qualified investment in a qualified

opportunity fund (QOF) at any time during the year, you must file your return with Form 8997, Initial and Annual Statement of Qualified Opportunity Fund (QOF) Investments, attached to your return. For more information, see Form 8997 and its instructions.

Extension of time to file. The extension of time to file an estate (other than a bankruptcy estate) or trust return is 5 ¹ /2 months.

Item A. Type of entity. On page 1 of Form 1041, item A, taxpayers should select more than one box, when appropriate, to reflect the type of entity.

Item F. Net operating loss (NOL) carryback. If an amended return is filed for an NOL carryback, check the “Net operating loss carryback” box in item F. See Amended Return, later, for complete information.

Item G. Section 645 election. If the estate has made a section 645 election, the executor must check item G(1) and provide the taxpayer identification number (TIN) of the electing trust with the highest total asset value in item G(2).

The executor must also attach a statement to Form 1041 providing the following information for each electing trust (including the electing trust provided in item G(2)): (a) the name of the electing trust, (b) the TIN of the electing trust, and (c) the name and address of the trustee of the electing trust.

Form 1041 e-filing . When e-filing Form 1041, use either Form 8453-FE, U.S. Estate or Trust Declaration for an IRS e-file Return; or Form 8879-F, IRS e-file Signature Authorization for Form 1041.

Note: Form 8879-F can only be associated with a single Form 1041. Form 8879-F can no longer be used with multiple Forms 1041.

For more information about e-filing returns through MeF, see Pub. 4164, Modernized e-File (MeF) Guide for Software Developers and Transmitters.