Skip to main content
Level 1
June 1, 2019
Solved

Loans from officers

  • June 1, 2019
  • 1 reply
  • 16 views
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?
Best answer by DianeW777

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.

1 reply

DianeW777Answer
Level 15
June 1, 2019

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.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"