neilbrink Posted February 15, 2012 Report Share Posted February 15, 2012 I am completing an initial and final 1041 for calander year 2001. Descedent died in January, 2011 and the estate had very little income. Some interest income and a house sold with a stepped-up value. With the attorney and tax preparer fees, the expense deductions are greater than the income, therefore no taxes due on the return. Do I still need to complete K-1s for the beneficiaries of the estate on the income that was earned, pass on the net loss to the beneficiaries, or not complete any K-1s because the estate had no taxes due? Quote Link to comment Share on other sites More sharing options...
taxit Posted February 15, 2012 Report Share Posted February 15, 2012 Yes k-1's need to be completed. Quote Link to comment Share on other sites More sharing options...
neilbrink Posted February 15, 2012 Author Report Share Posted February 15, 2012 Yes, I figured it out. Thanks. Quote Link to comment Share on other sites More sharing options...
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