Business & farm

You need to file a Trust return. https://turbotax.intuit.com/small-business-taxes/

The return will generate Form K-1. https://www.irs.gov/forms-pubs/about-form-1041

 

The fiduciary of a domestic decedent's estate, trust, or bankruptcy estate files Form 1041 to report:

  • The income, deductions, gains, losses, etc. of the estate or trust.
  • The income that is either accumulated or held for future distribution or distributed currently to the beneficiaries.
  • Any income tax liability of the estate or trust.
  • Employment taxes on wages paid to household employees.