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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.
‎June 11, 2022
8:13 AM