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anotary
New Member

Must Schedule K-1s be issued when an estate distributes no income, deductions, or credits to any beneficiaries?

I am trying to close out my mother's estate this year, and it earned very little in interest, with a tax liability less than $10, which the estate will pay.  Must I still issue K-1's to myself and the other two beneficiaries?

Also, if Line 22 on Form 1041 ends up being negative (-266 in this case), is the tax owed simply zero, and the final estate tax forms can be filed and the estate then closed once assets are distributed?

1 Best answer

Accepted Solutions
Critter
Level 15

Must Schedule K-1s be issued when an estate distributes no income, deductions, or credits to any beneficiaries?

1 Reply
Critter
Level 15

Must Schedule K-1s be issued when an estate distributes no income, deductions, or credits to any beneficiaries?

No you do not. 

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