The Trust for my deceased father's estate sold a piece of land in 2021. The capital gains tax (small) is being paid by the Estate. Out of the proceeds of $240,000 the will stated $15,000 goes to 10 people, the remaining staying with the estate until probate is completed. The $15,000 per person was distributed in 2021.
Does the Estate need to fill out Schedule K-1 for each person receiving $15,000?
