Appreciate the help,
As I am a beneficiary of the estate as well this would not make me impartial I'm guessing?
Am I then required to distribute any income that was generated during the final tax year if there is no governing instrument in place requiring me to do so, or could I put nothing in the “income to be distributed currently” fields of the 1041 for the beneficiaries and disregard the K1s entirely? I would then distribute the entire funds post tax year close for the estate without the need for K1s.
