Pelletier & Leo provides fiduciary income tax return preparation (Form 1041) for trusts and estates throughout Los Angeles. When a trust or estate earns income, the IRS requires filing Form 1041. Failing to file, or filing incorrectly, can expose trustees and executors to personal liability. We handle the preparation accurately and on time, so you can focus on administering the estate.
Form 1041 is the U.S. Income Tax Return for Estates and Trusts. It reports income, deductions, gains, and losses earned by a trust or estate This is separate from the beneficiaries' individual 1040 tax returns.
We work with trustees, executors, and estate administrators who are responsible for filing on behalf of the trust or estate. We also assist beneficiaries who need help understanding their Schedule K-1 and how trust distributions affect their individual tax returns. Estate attorneys and financial advisors often refer their clients to us when a dedicated CPA is needed for the fiduciary tax side of an estate.
The Pelletier & Leo team prepares federal Form 1041 and California Form 541 for trusts and estates of all types, including revocable trusts that became irrevocable at death, irrevocable living trusts, special needs trusts, and charitable trusts. Our work includes preparation of Schedule K-1 for each beneficiary, calculation of estimated tax payments to avoid underpayment penalties, extension filing when needed via Form 7004, and amended or prior-year returns.
Form 1041 is due on April 15, 2026 for calendar-year trusts and estates. An automatic extension of 5.5 months is available by filing Form 7004. Fiscal year filers have different deadlines based on their year-end. We track these deadlines for every client and file extensions when additional time is requested.
Our CPAs have experience working with trust and estate tax clients in the Los Angeles area and throughout California. We always do our best to answer questions promptly and clearly, so you understand the process and details of your return. If you would like to discuss your 1041 tax return, click here to speak with a CPA from our team.