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Net investment tax

joeh
Level 3

How do I remove Net investment tax from estate beneficiary's return

 

When Estate has already paid it

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6 Comments 6
sjrcpa
Level 15

Is there investment income - interest, dividends, capital gains - on the K-1?

The more I know, the more I don't know.
joeh
Level 3

yes...however Executor has informed client that Estate paid the NIT

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Just-Lisa-Now-
Level 15
Level 15

How did they pay it if the income was distributed to the beneficiary on the K-1?


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
joeh
Level 3

I raised the question to my client about payment and received written reply from executor that Estate paid it

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sjrcpa
Level 15

Can  your beneficiary client request a copy of the 1041?

And, does the Executor even know  what Net Investment Income Tax is?

The more I know, the more I don't know.
joeh
Level 3

I am going to request validation of payment.  and will tactfully determine a way to be sure that the executor understands the question.