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Deductions & credits
The estate must report the Form 1099-R on an estate income tax return Form 1041 prepared by the executor and issue to you and the the other two estate beneficiaries Schedules K-1 to pass the income through to report on the beneficiaries' individual tax returns. Whether this passed-through income goes on the beneficiaries' 2020 tax returns or on the beneficiaries' 2021 tax returns depends on the end date of the period covered by the estate tax return and indicated the Schedules K-1.
‎February 22, 2021
2:13 PM