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This does sound so painful and sad. I have personally not had any issues in my family with the elders passing as there was nothing to fight over. However, I was trustee and executor for wealthy clients. The trust attorney was very astute in setting up the complicated structure, making the grands wait for 5 years before principal distribution. That cooled some heels among them but there was antagonism towards me as trustee. When questions or complaints arose, I simply pointed to the trust a copy of which they had before death. There was also a private letter for some property distributions with one item creating an issue - so I donated it. As Lion said, breathe, hang in there, do what is right, vent here, and know you have done your best to care for your mother and abide by her wishes.

Dar.........it might just be Wisconsin. Two of my brothers have not spoken to me in over 15 years, since my Mom's funeral. It's funny when you ask "Where were they when I was toting them to appointments, etc." Same case here except that I had two for five years and one for one more year. They passed at 92 and 90. I SO feel for you, but nothing valuable left after they moved them up here from Racine. What was left was the proceeds from the sale of their house; residue was split four ways. However, guess who bought their house. The son of one of my brothers for assessed value; fixed it up a little and sold it. I don't care. I truly don't! It wasn't easy because I was working two jobs at the time. However, I can sleep at night. There is no easy answer for your question. Get it over and walk away. You will live longer and happier. Love you!!!!

I'm so sorry. Take a deep breath. We love you. Some of us (not me) know a bit about trusts and can help you, even if it's just the best questions to ask the lawyer or whatever support. So painful when family doesn't support each other. (I have a trust client where the trustee is picked on by her siblings for every decision but none provide help. She's forced to get legal help to sell the one commercial (but vacant) property to "divorce" herself from her siblings fighting her.) Hang in there. You can always vent here.

I am getting a headache just reading your post. I hope everyone is still talking to each other after this is wrapped up.

A tight sales agreement and transaction would have the amounts for personal goodwill and the covenant paid directly to the doctor. I had a similar agreement a few years ago (for a retail operation though) that originally did not have any allocation to "personal" goodwill and that was modified to designate some of the goodwill as personal, and the payments allocated as personal goodwill and the covenant were paid directly to the individual shareholders. I did report the sale portion for personal goodwill and covenant on the shareholders' individual 1040s, and the portion for the corporate goodwill was reported on the 1120. I was the preparer of the form 8594 and provided that for the purchaser's accounting firm. I did not include the portion of the sales price that was allocated to personal goodwill or the covenant, only the portion of the sale proceeds actually received by/reported by the corporation since those are the amounts that will be reported on the corporate tax return.

Darlene, if this is the estate, as Danrvan said the estate's tax year "must end no later than the month end preceding D.O.D." and I am sure Dan meant to say 6/30/21. That means that with the D.O.D. of 7/11/20, the estate could choose as it's first year end date to be any one of the month end dates between 7/31/20 through 6/30/21 because the estate's first tax year can't exceed 12 months.

Is this a trust or an estate? Trust would have a calendar year end unless a section 645 election has been made. The first tax year of an estate must end no later than the month end preceding D.O.D. So in this case the first year end must end no later than 08/31/21. I am not sure what you are asking. But as Lion pointed out, you use cash basis unless accrual was elected on the original return.

Cash basis trust? If so, then what was paid, was paid.

After applying for ERC and amending Forms 941, you amend the original income tax returns to reduce payroll expense, increase profit, including amending Forms K-1. Then you amend the original individual income tax returns that receive the amended K-1s. Labor intensive, so charge enough for your time and knowledge.

The correct way to do this is "unreimbursed partnership expenses" deducted of Page 2 of Schedule E, assuming that that the required language is present in the Partnership Operating Agreement.

Charge your clients at least double what the ERC mills charged them to amend their Forms 941, and upfront, also!

well some of us are not talking now.. The 5 brothers sued me for coercion - where were they when mom needed help, rides, so of course it looked like I did it - but the funny thing is she was deemed competent to sign herself into Assisted Living.. Attorney deposed and showed - it was all my mom that did the trust - so now they are still tying this up but no legal claims.. just questions, attorneys, and a mediator.. but she did die from the ER's 2 mistakes and they admitted that - but at 90 years old, my Dr said is it worth going after them? But I still have 1 bro who says I killed his mom - what about the other 2 who lived within a mile? Where were they in this? So sad - over what? Make sure you give it all away before you die! D