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Level 3
December 7, 2019
Solved

If no estate / EIN was created for a deceased LLC Member, how should his K-1 for 2018 be reported in year after death?

  • December 7, 2019
  • 1 reply
  • 13 views

LLC Member died in Dec 2017, had no will, and owed back taxes (debt clearly exceeds any assets). Probate was not set up nor was an Estate of deceased. LLC dissolved in 2018. Final Distribution was issued by cashiers check to "Estate of deceased" If no estate / ein was created for the deceased, how should his K-1 for 2018 be reported?

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Best answer by sjrcpa

The K-1 gets issued to the Estate. It doesn't matter if the legal work for the estate has not been done yet .

1 reply

sjrcpa
sjrcpaAnswer
Level 15
December 7, 2019

The K-1 gets issued to the Estate. It doesn't matter if the legal work for the estate has not been done yet .

The more I know the more I don’t know.
sjrcpa
Level 15
December 7, 2019
And with no eIN for the estate, you'll be filing on paper.
The more I know the more I don’t know.