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user17521905689

Level 1

Question

Do I report an inheritance received as a distribution from liquidation, on1099 div line 9? The K-1 I received shows No Reportable Amounts

Forum|Forum|3 years ago
November 6, 2022
2 replies
16 views

No text available

TurboTax Deluxe Online

Level 15

You will only enter the informatin on the K-1 form that was issued to you ... it is possible that nothing on that form will be reflected on the tax return. Don't add anything yourself ... and box 9 of a 1099-DIV doesn't get reported on an income tax return.

Level 15

I agree with @Critter-3.

If Part III of your K-1 (1041) does not contain any figures, the executor (or individual responsible for tax matters for the estate) might very well have issued you the K-1 in order to inform you that none of the distribution you received needed to be reported on your individual income tax return.

Further, you do not need to issue a 1099 to the estate.