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I assume the total of all K-1's for the beneficiaries needs to match the income distribution deduction on the 1041? Some distributions to beneficiaries will be made in 2020, so even though a K-1 is prepared for the Estate's 2019 form 1041, the beneficiary will report income for 2020, since there is no requirement for distributions to be made in the current year?
Thanks for any input.
March 6, 2020
9:53 AM