Robin Posted February 15, 2010 Report Share Posted February 15, 2010 I understand how to handle the distribution on the 1041 which will be designated as the final. The 1099R had FWT which I would like to pass through to the 2 beneficiaries via their K-1 (along with the taxable portion of the distribution), resulting in -0- tax on the 1041. The software seems to indicate that the estate should receive the refund. Can th beneficiaries use their share as a payment on their individual 1040's. If, so where does it go on the K-1. Box 13? Robin Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted February 15, 2010 Report Share Posted February 15, 2010 Line 14? But seems like the proper way is to get the refund through the 1041, which would then be distributed to the benes. Quote Link to comment Share on other sites More sharing options...
BulldogTom Posted February 16, 2010 Report Share Posted February 16, 2010 I like KC's approach to this. Let the trust or estate take the refund into cash and then distribute it to the beneficiaries. Clean. Tom Lodi, CA Quote Link to comment Share on other sites More sharing options...
Robin Posted February 17, 2010 Author Report Share Posted February 17, 2010 Thank you for your feedback KC & Tom. I was hoping to avoid a step in just having the 2 beneficiaries take it as a credit on their individual returns, instead of having to wait/ then disburse the refund. Looks like it could have worked with estimated payments but not with withholding???? Robin Quote Link to comment Share on other sites More sharing options...
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