Patrick Michael Posted July 22, 2020 Report Share Posted July 22, 2020 I tried to Google this but can't find the answer and this always confuses me. Client's mother passed away in November 2018. Nothing happened with the estate until 2019. Client filed his 2019 taxes in May and last week he received a 2019 K-1 with a fiscal year ending date 07/16/20. Should I amend his 2019 return to include the K-1 or does it belong on his TY 2020 return? Thanks. Quote Link to comment Share on other sites More sharing options...
jklcpa Posted July 22, 2020 Report Share Posted July 22, 2020 The individual reports the K-1 income in the year that the K-1's fiscal year ends, so in your client's case, the K-1 activity for fiscal year end 7/16/20 would be reported on the individual's 2020 tax return. 3 Quote Link to comment Share on other sites More sharing options...
Patrick Michael Posted July 22, 2020 Author Report Share Posted July 22, 2020 Thanks Judy. I get so few of these I can never remember of it's the starting or ending year. Quote Link to comment Share on other sites More sharing options...
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