Full-Service Probate And Estate Planning Assistance

Filing final tax return as executor in Washington State

On Behalf of | Jan 28, 2022 | Estate Administration & Probate |

When someone dies, their affairs must be wrapped up and their final tax return filed. This can be a daunting task for executors, who are often grieving the loss of their loved one at the same time. However, with some organization and planning, you can do it relatively easily. Here’s a look at the process of filing a final tax return as an executor in Washington state.

When is the tax return due after the decedent’s death?

The final tax return for an estate is due nine months after the date of death. This return includes all income and expenses from the time of death until the date of the return.

Steps to filing the final tax return for a decedent

The first thing you ought to do is to obtain a copy of the decedent’s final tax return. You can do this by contacting the IRS or the state revenue department. If the decedent had any business income or investments, you would need to contact those institutions as well and ask for copies of their tax returns. In addition, if the estate goes through probate, you must file tax returns for the amount of income it accumulates during that time.

Once you have all of this information, it’s time to start compiling it into a complete return. You will need to know the decedent’s adjusted gross income for the year in which they died as well as their taxable income and total taxes paid. You will also need to know what type of estate tax exemption was used on the return, if any.

If no estate tax is due, you can file the final return as a regular individual income tax return. However, if there is estate tax due, you will need to file Form 8939 in addition to the regular return. This form provides information about the decedent’s estate and how they paid taxes.

Once you’ve compiled all this information, you can begin filing the final tax return. Be sure to double-check everything for accuracy before submitting it as any mistakes could result in penalties or fines.