Estates & Trusts

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Beneficiary Request of Information

If you have been designated to receive assets from an Estate or Trust that is using our services to
prepare the 1041 US Income Tax Return for Estates and Trusts, you’ll need to provide us information needed to file the 1041 tax return.

The 1041 Tax Return is used to report income, losses, and deductions the estate/trust incurs from the date of death until the date the Estate/Trust closes. Please note that this is not a Form 706 US Estate Tax Return; which is only based on the value of the decedent’s assets.

Generally, as a beneficiary, you will only pay tax on the earnings that the assets make while in the
Estate/Trust’s care or on any accounts that were previously untaxed to the decedent such as IRA,
401k, and Annuity accounts. You might also have losses or deductions based on this particular
Estate/Trust that can be passed through to you to include on your individual income tax return.

IRS requires the Estate/Trust to issue a Form K-1 to all beneficiaries in a year where there is either
income or losses that flow through to the beneficiaries. It is very important that you wait to file your personal income tax return until you receive your K-1. This K-1 will be provided to you based on the option you choose in Part 2. It is also provided to the Internal Revenue Service.

Click here for a blank beneficiary information form. This will need to be returned to us in order to send you your tax form.

Additional Information:

Death of a Taxpayer

Personal Representatives