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Level 2

Question

Schedule K-1 Form 2041

Forum|Forum|6 years ago
February 28, 2020
1 reply
29 views

Today I received a Schedule K-1 for a Final 1041 for an estate. I have already filed my taxes and have received a refund. What do I do?

Level 15

You can provide more details on exactly what is included on the K-1 you received.

If entry of the K-1 increases your federal or state tax liability, you will need to amend your return.

debbyaegerterAuthor

Level 2

The K-1 is Beneficiary's Share on Income, Deductions, Credits

The following is included

on my K-1 in Box 11 there is: Final year deductions

11. A* 681

C 12

D 1,774

E 1,774

Other information

in Box 14: 14. B* 1

The box is checked for the final 1041 for the estate or trust

Nothing in any other of the boxes.