Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 01-15-2023, 05:20 AM
Junior Member
 
Join Date: Apr 2018
Location: Dublin, CA
Posts: 21
Estate Income Tax Return

I'm not sure if this is the correct forum for the following question. If not, please direct me to the right one.

I am the executor of my mom's estate. The only asset is a money market (essentially cash) account. As this is small estate, I did not have to file a Form 706. This question is about the estate's income tax return. The only income in 2022 was a small amount of interest income.

In Feb. 2022 I distributed $1M to the beneficiaries. Only approx. $77K now remain.
Question: do I have to issue K-1's to the beneficiaries? Do I need to tell the IRS which beneficiaries received money and how much?
If not, will just a simple Form 1041 suffice?

Thanks for your help!



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Estate Income Tax - Current income, past deductions Jim223 Income 0 06-19-2017 12:26 PM
Estate Tax Return cjeppler Income 0 03-12-2014 12:03 PM
Return for an Estate Reno98 CPA Forums 5 01-18-2014 06:09 PM
When and where is the Estate tax return due? andri Estate Planning 1 08-27-2007 10:05 PM
What is are the requirements for filing an estate tax return in 2007? Daso Estate Planning 1 07-30-2007 03:15 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.