tagteam
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Business & farm

You need a certain number of posts before you can attach files and/or post screenshots. I believe it might be five, but am not sure; it is definitely more than one.

 

Net losses from the estate cannot be passed through to the beneficiaries until the estate is closed and the final return is filed. Assets (aka principal or corpus) can be distributed to beneficiaries without having any adverse impact on losses incurred by the estate.

 

You do not have to issue K-1s if there have been no distributions that have an impact on income, gains, credits, et al (i.e., if they would otherwise be blank). 

View solution in original post