keith2
New Member

Mother passed 10/17. Normal 1040 done for 2017. Probated estate closed with disbursements to beneficiaries in 2/19. Need two 1041's: one 10/17-9/18, + one for 10/18-2/19?

If an estate is open for more than a year, does that mean more than one 1041 must be filed?. In my case, estate income was all in late 2017 and 2018, but distributions to beneficiaries did not occur until 2019. Does that make it impossible for me to use the distributions as a deduction to offset the income in 2018?

Carl
Level 15

Retirement tax questions

If the distribution occurred in 2019 then you have nothing to report concerning it on any 2018 tax return. The estate will be filing a "final" 1041 and issuing "final" K-1's for 2019 next year.
keith2
New Member

Retirement tax questions

Thank you for your reply. Sorry, but I'm still confused. What period will the "final" 1041 cover if it can only cover a 12 month period? Will there be a 1041 for 2018 and a final 1041 for 2019?