Service:
Bookkeeping & Payroll
Client:
Nonprofit
Duration:
6 months
Date:
Jun 19, 2025
Scattered Records, Tight Deadlines
The trustee was new to the role and faced mismatched statements, missing 1099s, and sales that spanned before and after the date of death. Cost-basis and step-up values needed confirmation, distributions crossed tax years, and K-1s for several beneficiaries had to be right the first time. With the filing deadline approaching, the risk of errors, penalties, and amendments was high.
Structured Intake, Careful Review, On-Time Filing
We mapped every account and document, then gathered records securely through SmartVault. Our team verified date-of-death values with custodians, reconciled lots and transactions, and classified expenses properly. We prepared the 1041 with accurate gains and DNI, held a plain-English review, e-filed on schedule, and issued K-1s early—closing with a tidy archive and a simple checklist for next year.
SmartVault in Action:
Filed Clean, On Time
K-1s delivered early so beneficiaries could finish their own returns without delays.
No amendments needed—basis and lots tied out to custodial statements.
Lower balance due after correctly classifying expenses and capturing allowable adjustments.
No penalties or notices—deadlines met and confirmations saved.
Secure archive in SmartVault plus a simple checklist for next year.
“De Sensi & Associates took a stressful situation and made it manageable. They gathered every statement, confirmed the step-up in basis, and explained what each number meant in plain English. Our 1041 was filed on schedule, K-1s went out early, and we avoided amendments and penalties. Best of all, they left us with a tidy archive and a checklist so next year will be even easier.”
John R
President
