My mother died in October 2004 and I am the executor of her estate which was
Less than $200,000.
I filed her final tax return in 2004 and equally distributed all of her assets
(except for her house) to her two heirs (my brother and myself).
In 2005, there was no income into the estate and only the expenses were for maintaining
The house and property taxes, so I did not file a tax return for the estate.
In 2006, I sold the house for $80,000 (from the estate) but the fix-up and selling
Expenses resulted in a net loss from the basis established upon her death. There was
No other income into the estate. At closing, I signed a form which reported the
Property sale to the IRS with my TIN as executor.
My questions are:
1. Am I required to file a 1041?
2. I did not apply for a TIN for the estate. Am I required to obtain one before filing?
3. Am I required to file Schedule K-1 to report the distributions to myself and brother?
4. Will this be taxable income to us?
