@joejoe1592 wrote:
The beneficiary distributions are entered on 1041 Schedule B/Line 9 as "Income required to be distributed currently" totaling $60,430. Are beneficiary distributions considered income???
What is the source of the income?
All distributions to beneficiaries are not income. For example, distributions from corpus (principal) are not income and not subject to federal income tax.
However, if the income is on the line you indicated, the source is likely to be interest, dividends, gain, et al, and, therefore, subject to federal income tax.
@joejoe1592 wrote:
Does the estate need to generate me a 1099 form for the earned amount or can I just file that amount as part of my personal 2021 tax return?
If you are a professional fiduciary, then the estate should issue you a 1099-NEC if you were paid $600 or more.
If you are not a professional fiduciary, then the estate should issue you a 1099-MISC with the amount you were paid in Box 3 if you were paid $600 or more. This income would be miscellaneous income for you and would not be subject to self-employment tax.
