Argo Posted February 7, 2013 Report Share Posted February 7, 2013 Hi fellow ATX'ers, I said yes to a simple Estate return and have never completed one before. All the activity is holding of a lake property, sell of lake property at a loss, and distributions to 10 beneficiaries. I may be brain dead this morning but for the life of me I can't find where to enter the distributions so they flow to the beneficiaries K-1's. Quote Link to comment Share on other sites More sharing options...
OldJack Posted February 7, 2013 Report Share Posted February 7, 2013 Distributions of principle don't flow to beneficiaries on a 1041 Tax Return, only income or deductions. Income distributed is accounted for in order for the estate/trust to not have to pay income tax. Quote Link to comment Share on other sites More sharing options...
Argo Posted February 7, 2013 Author Report Share Posted February 7, 2013 Ok, that makes perfect sense. The only thing that actually flows to the K-1 is the loss on the sale and the expenses. A Quote Link to comment Share on other sites More sharing options...
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