dmertz
Level 15

Get your taxes done using TurboTax

Your questions should be directed to the executor or personal representative of the decedent's estate.  If there was going to be a large amount distributed to you from the estate that was going to be taxable in 2023, the executor or personal representative should have coordinated with you so that you could make the necessary estimated tax payments.

 

Check the end date of the tax year on the Schedule K-1.  If the end date is in 2024 (with the estate using a fiscal tax year), the income is reportable on your 2024 tax return, not your 2023 tax return.  For the purposes of annualizing income on Form 2210 to minimize any tax underpayment penalty, I would treat the income as received on the end date of the estate's tax year.

 

There could easily have been a large amount of taxable income to the estate if there was a sale of property by the estate that resulted in taxable capital gains or a distribution to the estate from an tax-deferred retirement account.