Question

Form 1041 is filed to report and pay tax on ______. The transfer of assets from...

Form 1041 is filed to report and pay tax on ______.

The transfer of assets from the decedent's estate to the beneficiaries.

Income the decedent received during their life.

Income received by the decedent's estate after the decedent's death.

Income received directly by a designated beneficiary because of property transferred via a transfer on death deed

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Answer #1

Answer : Correct Option is Income received by the decedent's estate after the decedent's death..

Reason :

Form 1041 is filed to report and pay tax on Income received by the decedent's estate after the decedent's death.This form reports the income an estate earns when the owner of the estate dies but before the transfer is made to beneficiaries.Therefore Correct Option is Form 1041 is filed to report and pay tax on  Income received by the decedent's estate after the decedent's death..

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