It depends. The estate can choose to pay the tax; however, if you want to distribute the proceeds then you will report the gains on the beneficiaries K-1s. If the estate pays the tax you should still enter beneficiary information and issue the K-1s, even though they will have all zeros.
Once the estate probate has completed, then you will enter the appropriate income, disbursements, etc on the K-1s of the beneficiaries. At this time, that would take place in 2025 or later.
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