Received a lump sum distribution from estate and paid taxes, Issuing a K-1 for the amount distributed. Is that taxable income to the beneficiaries

[MichaelL1]

The K-1 needs to be reported on your return.

The actual distributions may not be taxable but the earnings from the date of death until distributed would be.  Retirement accounts and savings bonds are taxable income in most cases.  

The K-1 is reported as follows:

Federal Taxes

Wages and Income

scroll down to "Business Investment and Estate/Trust Income

to K-1's