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?

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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.

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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.**

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.

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.

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