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Level 1
July 9, 2021
Solved

How do I report an IRA distribution paid to an estate on Form 1041?

  • July 9, 2021
  • 1 reply
  • 23 views

This is the final year of the estate. Final distributions were made to the beneficiaries.

Since this is the final year of the estate, how do I allocate the 20% federal income tax deducted from the IRA distribution to the beneficiaries? 

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Best answer by TAXOH

You can't.   It has to be refunded to the estate and then distributed to the beneficiaries. 

1 reply

TAXOH
TAXOHAnswer
Level 10
July 9, 2021

You can't.   It has to be refunded to the estate and then distributed to the beneficiaries.