You will have to file all necessary tax forms and open a checking account in the name of the estate to pay any estate expenses. New York State's estate tax is calculated using the tax table provided on Form ET706.There are multiple versions of Form ET-706. You must file Form ET-706 within nine months after the decedent's date of death, unless you receive an extension of time to file the return. An executor will most likely need to file federal and state (and local) income tax returns for the year when the decedent died. When filing as an executor of estate, on the Form 1040, include only income and expense items up to the date of death. The income tax return form for estates is IRS Form 1041. It's also called a "fiduciary" return, because you file it in your capacity as executor of the estate.

Income Tax On Estate Administration In Travis

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