Cincinnati Ohio Form 1041-A 2018-2025

Cincinnati Ohio Form 1041-A: What You Should Know

Enter on line 2 the federal estate tax rate. • Enter on line 3 a designation such as “Ohio estate tax” or “Ohio trust tax.” The first column should be completed in full. IT 1041 for non-deceased dependent of deceased individual (IT 1241 or IT 1245) All non-deceased dependents of a deceased individual must file IRS Form 1041, Form 886 and Form 886-EZ by October 31, 2019, for any taxable year that ends on or before June 30, 2025. The trust should submit all non-deceased dependents of the deceased individual to the Ohio Department of Taxation for inclusion in the estate on line 4. This Form should include the trust number, trust description in column 2 and the trust's federal estate tax rate and effective date. Ohio Form 1042 for non-deceased dependent and non-exempt recipient All dependent dependents whose exemption is less than or equal to the tax liability of the dependents listed at line 21 (not dependent dependents) of Form 1040 as of the filing deadline must file Ohio Form 1042 by January 1, 2021, even if such dependent dependents do not receive estate benefits. There are some exemptions from Form 1042: • Certain military dependents; • Dependents of the decedent if they are not deceased; • Dependents of the decedent who are surviving spouse or qualified domestic partner. An estate tax return (Form 5885) cannot be filed by a married person with only his spouse as a dependent. The spouse should file Form 1041, Form 886 and Form 886-EZ. Ohio Form 886 — Estate Plan Information Form (Form 886-EZ)  A Form 886-EZ is used by individuals who are unable to file a Form 886, or who may have a change of residence within the state within the 10-month period beginning on the filing date for each year they wish to file an estate tax return. Each individual must complete the 886-EZ, indicating the total estate income, the number of dependents, a designation such as “Ohio estate tax” or “Ohio trust tax,” with the federal estate tax rate and effective date. The federal estate tax rate is equal to 10 percent.

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