Fiduciary Tax Preparation Services in Billings, MT
Filing taxes on behalf of a trust or estate requires a high level of attention, understanding, and care. At Mason CPA, we work with trustees, executors, and legal professionals to prepare accurate fiduciary tax returns that meet all federal and state requirements. Whether you’re handling a living trust, testamentary trust, estate administration, or making a large gift, our team is here to help.
Trust & Estate Tax Returns (Form 1041)
If a trust or estate earns income after the grantor’s passing—or during trust administration—it may need to file Form 1041, the U.S. Income Tax Return for Estates and Trusts. We ensure that:
- All income, deductions, and distributions are properly recorded
- K-1s are issued correctly to beneficiaries
- Filing deadlines are met to avoid penalties
- Applicable deductions (including administrative expenses) are properly applied
- State fiduciary returns are completed if required
We coordinate with attorneys and financial advisors when needed and provide guidance on fiduciary responsibilities related to tax compliance.
Estate Tax Returns (Form 706)
When the value of a decedent’s estate exceeds the federal exclusion amount, a federal estate tax return (Form 706) may be required. This is a complex filing with detailed asset reporting and valuation requirements.
Our services include:
Calculating gross estate values, including real property, investments, business interests, and life insurance
Applying the federal estate tax exemption and any available deductions
Preparing Schedules A through O as required
Coordinating appraisals and valuations with estate professionals
Filing on time to preserve portability elections or avoid penalties
Even if no estate tax is due, filing Form 706 may be beneficial for certain planning opportunities. We walk you through the process from start to finish.