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Retirement tax questions
$30,000 is quite a bit of income to pass through on a Schedule K-1 (Form 1041), suggesting that it may have been from a taxable distribution made to your deceased uncle's estate from a retirement account. That would normally appear in box 5 of the K-1 and is becomes taxable to you (at your lower tax rate) instead of to the estate (at 39.6%).
May 31, 2019
5:34 PM