BobKamman
Level 15
03-11-2022
10:25 AM
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Yes, a 1041 showing the sale of the land, and it might generate a Schedule K-1 showing a capital loss for the beneficiary (presumably your client). But probably not for 2021 since the estate is still open. It doesn't have to be a calendar-year return, but lately I have been encountering resistance from fiduciaries when I suggest fiscal year.