1) Is there anywhere on the 1041 where I enter the cash that was moved to the estate from my mother’s savings account? I realize this is not income but I want to make sure there is nowhere that cash must be entered. Cash is NOT income so it is not entered anywhere on the 1041.
2) The K1s for each beneficiary shows their share of the income generated by the estate before it was closed. (It was a small amount of interest and an slight increase in the stock value from the date of her death until they were sold) All of the beneficiaries are sons or daughters of the deceased so there is no tax on the inheritance. That being said, are there any forms other than the K1, that must be issued to the beneficiaries? Only the K-1 is needed.
