Need help filing Estate taxes after my mom's passing - what exactly is considered "the estate"?

First off, take a deep breath! This is simpler than you might think. What constitutes "the estate" for tax purposes is essentially all assets that were in your mother's name alone at the time of her death (not jointly owned and without beneficiary designations). Since you mentioned all the IRAs, annuity, insurance, and CDs had POD (payable on death) designations, those assets bypassed the estate and went directly to the named beneficiaries. These aren't technically part of the "probate estate" and wouldn't be reported on an estate tax return. The estate checking account would contain any assets that didn't have beneficiary designations or joint ownership. Based on what you've described, it sounds like your mother's estate is quite small, with just the funds in the checking account and whatever generated that 1099. Most estates don't actually need to file an estate tax return (Form 706) unless they exceed the federal exemption amount (which was $12.06 million in 2023). What you might need to file is an income tax return for the estate (Form 1041) if the estate earned more than $600 in income after your mother's death. This would account for that 1099 you received.

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Just to add some clarification based on my experience as an executor: Remember that any income generated by estate assets after death but before distribution to beneficiaries belongs to the estate and needs to be reported on Form 1041. This includes interest from that checking account, dividends, or any other income generated. Some executors make the mistake of thinking that since the assets eventually go to beneficiaries, they don't need to file an estate income tax return. But if the estate generates $600+ in income while you're administering it, you'll need to file Form 1041. Also, keep detailed records of all distributions from the estate checking account. This will make your tax appointment much smoother.

The advice from others is spot on. I just went through this with my dad's estate and want to add one thing: check your state requirements too! Federal estate tax has a high exemption, but some states have much lower thresholds for estate or inheritance taxes. I almost missed filing a required state form because I was only focused on federal. Might be worth asking about at your March appointment.