canastasio
Returning Member

Business & farm

Thanks Tagteam!  Still confused though -- this return isn't the final return, as the estate's funds weren't expended within the 2018 tax return's time frame.  But the beneficiaries received funds from the sale of the house in summer 2019, so I presumed they had to report that when they filed 2019 taxes this year.  Perhaps I'm not clear on what the expectation is for them to report the funds.  Also still not clear why the K-1s would be blank -- shouldn't they show either a positive or negative number for the house ale proceeds?  Do they not report them until after the final return is submitted, at which time the K-1s would then get populated with the capital loss incurred by the sale of the house?