sjrcpa
Level 15
Sunday
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
So the 1041 as filed was probably wrong. Wonder what explanation they gave for the Estate being open for more than 2 years. Probably none since it "self-prepared" and has other errors.
It still needs to filed as long as the Estate is the Payee. But to the extent it was distributed to the beneficiaries they should have rec'd K-1s for their share of the income. No Estate level tax.
Curious - is there an estate bank account? I'm wondering how checks payable to the estate were cashed/distributed to 2 other people.
The more I know the more I don’t know.