K-1s for Estate with no income

Forum|Forum|4 years ago
February 6, 2022
1 reply
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Filing a 1041, I tell TT there are no distributions (negative income after deductions so no income to distribute) and it asks me if I want it to create a K-1 for the beneficiaries. Is there a reason I would want to create a K-1s with all zeroes?

TurboTax Business Windows

Best answer by Anonymous_

@LLLC wrote:

..... Is there a reason I would want to create a K-1s with all zeroes?

No, except it would inform the beneficiaries that there is no income from the estate that they would need to report on their individual income tax returns.

Anonymous_Answer

Level 15

@LLLC wrote:

..... Is there a reason I would want to create a K-1s with all zeroes?

No, except it would inform the beneficiaries that there is no income from the estate that they would need to report on their individual income tax returns.