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Mother's estate

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mommajayne

Junior Member
What is the name of your state?IL
My mother died in August. She hasn't filed a federal tax return in years due to not meeting the requirements to. I was advised not to open probate for her estate as the only asset was her home which was valued at less than $250,000, the lawyer told me I didn't have to according to state law. I do have a few checks made out to her estate that I can't do anything with because there is no estate account. Lawyer said it would end up costing me more than what the checks were worth. I have sold her house, we haven't closed on it yet, so I am assuming I will need to file an estate income tax return for the sale of the house. Not sure how that will work, as there are 4 beneficiaries, any advice on that?

Thanks.
 


abezon

Senior Member
File Form SS-4 to get an EIN for the estate, then open a bank account. The estate will file a 1041 to report the sale of the house & any other income or expenses. This is not the same as opening probate.
 

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