So my parents left their property to us in a irrevocable trust. There is no taxes to pay. My father was a CPA and set this up decades ago. We sold the property and split the funds. The tax attorney said we do not owe taxes however, I have a 1041 K1 form. I do not want to have to pay $190 which is over $100 more to file business, makes no sense if there is nothing to payout. Is that the only option?
