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Labs4me Asked February 2014

Is any one familiar with a 1041-QFT, U.S. Income Tax Return for Qualified Funeral Trusts

My mother got some type of letter from the funeral home stating she has $29.00 taxable interest from her prepaid Funeral Trust.

pamstegma Feb 2014
If the interest was not paid to her and it stayed in the Trust, then you deduct any maintenance fees imposed by the funeral home holding the trust. Usually there is a net loss. If the $29.00 has no deductions against it, you pay 15% tax. The IRS will help you. Call -800-829-1040 .

pamstegma Feb 2014
She would report that on her income tax, IF she files income tax.

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