Special Needs Trust Form 1041 With Extension
Description
How to fill out Trust Agreement - Family Special Needs?
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FAQ
File IRS Form 7004 with the IRS to obtain an extension for 1041, U.S. Income Tax Return for Trusts and Estates. Once Form 7004 is accepted by the IRS, the Trust or Estate is granted up to 6 additional months to file their 1041 tax return.
If you need more time to file Form 1041, apply for an automatic 5-month extension. Submit Form 7004, Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns.
Use Form 2758 for estates that file Form 1041, U.S. Fiduciary Income Tax Return. Trusts that file Form 1041 must use Form 8736 to apply for an extension.
In these circumstances, the Form 1041 is very simple to complete. The trustee will check the box on Form 1041 indicating that the trust is a grantor trust and provide some general information about the trust (name, address, tax identification number, and the date the trust was established).
Third party special needs trusts are generally either considered ?complex trusts? or ?qualified disability trusts? for income tax purposes and the trust itself is responsible for reporting its own items of income, deduction, and credit.