Estate has only IRA of about $30K which we want to pay the taxes on at the estate level and not via a K-1 distribution it to beneficiaries. (no will and it's in probate now)
In this case does the 1041 reflect no income distribution deduction just the
$30 Income - fees -$2 = $28K taxable income and pays the tax calculated.
Please confirm or advise if when the cash amount of $28k is distributed to the beneficiaries NO k-1 is issued because it's been paid at the estate level.
Thanks
