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Estate and Trust Income Tax Statistics

Posted by: Zaher Fallahi
Posted On: Feb 04, 2014

Snapshot of Estate and Trust Income Tax Statistics

The U.S. Income Tax Return for Estates and Trusts (Form 1041) is used to report the income, deductions, gains, and losses of estates and trusts, as well as distributions to beneficiaries and income tax liability. Entities are classified into types based on their purpose. These types include:

Decedent’s estates

Simple trusts

Complex trusts

Qualified disability trusts

Electing small business trust (ESBT)

Grantor type trust

Bankruptcy estates

Pooled income funds

For information about selected terms and concepts, a description of the data sources and limitations, and links to recent revisions of Form 1041, please visit Income from Trusts and Estates Study Metadata.

For assistance with any tax matters, trust and estates, the IRS representation and disclosing your unreported foreign bank accounts, you may contact Zaher Fallahi, Tax Attorney, CPA, at (310) 719-1040 (Los Angeles) or (714) 546-4272 (Orange County), or e-mail to taxattorney@zfcpa.com.