Solved: If I am given a final K1 as a beneficiary of an estate from the CPA doing the taxes, does that mean the estate has been closed?
cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
New Member

If I am given a final K1 as a beneficiary of an estate from the CPA doing the taxes, does that mean the estate has been closed?

 
1 Best answer

Accepted Solutions
Highlighted
New Member

If I am given a final K1 as a beneficiary of an estate from the CPA doing the taxes, does that mean the estate has been closed?

It depends - a final K-1 would mean either the estate was closed and a final estate return was filed during the current calendar tax year or you are no longer considered a beneficiary of the estate after the current tax year.

View solution in original post

3 Replies
Highlighted
Level 15

If I am given a final K1 as a beneficiary of an estate from the CPA doing the taxes, does that mean the estate has been closed?

Ask the executor or the estate.  Estates can issue some distributions long before the estate has been closed or a final estate tax return is filed.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
Highlighted
New Member

If I am given a final K1 as a beneficiary of an estate from the CPA doing the taxes, does that mean the estate has been closed?

Thanks.
Highlighted
New Member

If I am given a final K1 as a beneficiary of an estate from the CPA doing the taxes, does that mean the estate has been closed?

It depends - a final K-1 would mean either the estate was closed and a final estate return was filed during the current calendar tax year or you are no longer considered a beneficiary of the estate after the current tax year.

View solution in original post

Privacy Settings