Loans from officers

[jennifervelo]

I have received a loan from my father's estate, while the details of my inheritance are being worked out.  Do I need to include this as income?  And if so, where do I add it?

[DianeW · Accepted solution]

No, do not include loan proceeds from the estate.  You will include any income on the earnings from assets in the estate after death and before distribution.  It will be repoted to you on a Form 1041-K1, if applicable.