I will be looking for a course to look further into estate tax return preparation and filing, but not too extensively. Family members need help with this, and I have no real interest in doing this for any other clients. IRS guidelines state almost the same requirements for filing either the 1041 or 706 form, so I am trying to see which fits this scenario: Divorced, retired father dies intestate, three children (beneficiaries), no rental income property only the home where the father resided, probate (estate) bank account, and two non-op vehicles make up the entire estate. Approximately $600,000 in value. Does that sound like a 1041 return or 706, and why?
Thank you.