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Retirement tax questions
The distribution is reportable on the estate's income tax return, Form 1041. The estate will generally pass the income through to the estate beneficiaries on Schedules K-1, the estate will take a deduction for this distributable net income and the income will be taxed on the beneficiaries' tax returns by entering the Schedule K-1 into TurboTax when preparing the beneficiaries' tax returns.
March 4, 2020
11:45 AM
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