Section 3402-404 - Fiduciary returnsEvery fiduciary (except receivers appointed by authority of law in possession of part only of the property of a taxpayer) shall make, under oath or affirmation, a return for the individual, estate, or trust for whom he acts as follows:
A. If he acts for an individual whose entire income, from whatever source derived, is in his charge and the net income of such individual is one thousand dollars ($1,000.00) or over, if single, or, if married and not living with husband or wife, or one thousand five hundred dollars ($1,500.00) or over if married and living with husband or wife, or whose gross income for the tax year is five thousand dollars ($5,000.00) or over, regardless of the amount of his net income.B. If he acts-- (a) for an estate of a deceased person during the period of administration or settlement whether or not the income of such estate during such period of administration or settlement is properly paid or credited to any legatee, heir or other beneficiary, (b)for an estate or trust the income of which is accumulated in trust for the benefit of unborn or unascertained persons, or persons with contingent interests, or (c)for an estate or trust the income of which is held for future distribution, or is distributable, in the discretion of the fiduciary, under the terms of the will or trust, and the net income of such estate or trust is one thousand dollars ($1,000.00) or over, or the gross income for the tax year is five thousand dollars ($5,000.00) or over, regardless of the amount of the net income.C. If he acts-- (a) for an estate or trust the income of which is to be distributed to the beneficiaries periodically, or (b)as the guardian of an infant whose income is to be held or distributed as the court may direct, and any beneficiary of such estate or trust, or such infant, receives, or is entitled to a distributive share of the income of one thousand dollars ($1,000.00) or more. The return made by a fiduciary shall state specifically the items of the gross income and the deductions, exemptions and credits allowed by this act. Under such regulations as the department may prescribe, a return made by one of two or more joint fiduciaries shall be sufficient compliance with the above requirement.D. The fiduciary shall make oath or affirmation that he has sufficient knowledge of the affairs of the individual, estate or trust for whom, or which, he acts to enable him to make the return, and that the same is, to the best of his knowledge and belief, true and correct. Fiduciaries required to make returns under this act shall be subject to all the provisions of this act which apply to taxpayers.1935, July 12, P.L. 970, No. 314, art. IV, § 404.