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To all my friends here, a very MERRY CHRISTMAS and Happy New Year 2019. And Happy any other holidays you celebrate (Hanukkah is complete, so in that case I hope it WAS good).

Same you Catherine, and to everyone on this forum. No question this group of friends is the best tax community anywhere.

Catherine, you said it all for those of us who wish to extend Greetings.

I disagree. The person creating the K-1 has to indicate to the partner/shareholder/REIT owner how much of the income generated is from QBI sources. It is reported on the K-1 on lines 20/17/14 (I am not sure of the exact line numbers) to be input onto the K-1 worksheet of the final personal tax return. When preparing the personal tax return we must include all forms of QBI, including Schedule C (if any), to determine the final amount of QBI, subject to taxable income limitations.

I got an email from TT today. It said hours were flexible. They actually called my home a couple of years ago during tax season. I told them that I didn't have any spare time and if I did I would spend it sleeping.

Roberts, that is correct if the estate makes the 643(g) election and files Form 1041T by March 6 (if a calendar year) or 65 days after the close of the fiscal year. I still don't know how you would calculate how much to pay in estimates. It might work with one beneficiary, or maybe a few if all get equal shares of distributions and are in the same tax bracket, but how would you know that? It would be cleaner if the fiduciary encloses a letter with the distribution warning each B that taxes will be due when they file a return.

I am sure the furloughing of 52,000 IRS employees will have little or no effect.