Greta
Level 9
05-27-2021
12:37 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
It must therefore go into estate. Executor can distribute it all to beneficiary as ordinary income, in order to avoid high estate tax rates, also pay executor fee, & accountant fee before year is finished. Is this correct? Anything else to save on taxes?
Best Answer Click here
Labels
sjrcpa
Level 15
BobKamman
Level 15
05-27-2021
01:20 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Before fiscal year is finished. If death was after 2/1/21, consider a January fiscal year so K-1 income is pushed into 2022, if that helps beneficiaries.