Generally, you just need to provide the K-1 to the beneficiary(ies) who, in turn, input the data into their individual income tax return(s). There are instances where it is useful (and necessary) to provide basis information, typically when property is distributed in kind.
I believe you mean to write "net investment income" since a gain from the sale of the home might be subject to the Net Investment Income Tax (NIIT). That would appear on Line 14 with an "E" code. The beneficiaries simply need to input that figure into their tax programs (or their tax preparers do). The executor should retain all of the supporting documents.
