The bankruptcy estate that is created when an individual debtor files a petition under either chapter 7 or 11 of title 11 of the U.S. Code is treated as a separate taxable entity. The bankruptcy estate is administered by a trustee or a debtor-in-possession. If the case is later dismissed by the bankruptcy court, the individual debtor is treated as if the bankruptcy petition had never been filed.
A separate taxable entity is not created if a partnership or corporation files a petition under any chapter of title 11 of the U.S. Code.
For additional information about bankruptcy estates, see Pub. 908, Bankruptcy Tax Guide.