Estate Income Tax - Are House and bank accounts considered income in Form 1041 somehow?

[DGSIII]

I am using TurboTax Business for my brother's final Estate Income Tax return.  For income, there were two 1099-B's and one 1099-R.  For deductions, there was the property tax on his house.  All of this was handled easily in TurboTax Business.  The income is more than $600 and the entire estate does not require estate tax.

My question is about the house, which has been transfered in probate to my mother (the sole beneficiary), and money in two bank accounts which I transfered to an estate account I created and then distributed the money to my mother.  Does any of this need to be included somehow in 1041 estate income tax return?

FYI, I did file for an extension for 2018 with TurboTax Business.

Thanks,

DGSIII

[tagteam]

Transfers of corpus are generally not reportable.

Beneficiaries who receive assets in kind from the estate (e.g., a house) take the estate's basis in most instances.

If you are in doubt, consult with a tax professional and/or your probate attorney.

[DGSIII]

What value do I put in “How Much Was Distributed to Each Beneficiary”?  Do I put only the value of the income reported in the 2018 Form 1041 or do I put the value of the entire estate distribution since this is the final return for the estate?

There is only one beneficiary.

[tagteam]

It is not absolutely critical, but since the instructions mention including distributions of corpus and property in kind, putting the entire distribution is technically correct where corpus and in kind are second tier.

https://www.irs.gov/instructions/i1041#idm140630131138624