topic When Can a Successor Trustee File a 1041 to Generate a K-1 form? in Get your taxes done using TurboTax

When Can a Successor Trustee File a 1041 to Generate a K-1 form?

PJhiker — Mon, 23 Feb 2026 12:06:01 GMT

Here is my scenario. My dad died in August of 2021. He had a Trust and my brother is the Successor Trustee. There was pretty much only a house to be sold and split between my brother and I. That house was sold in May of 2022 and my brother sent me a check for my half in May of 2022. After that he stated he had to wait to get his work W-2 form and do his taxes to file the 1041 form that generates the K-1 form I need for my taxes. Is that accurate or could he have filed a 1041 form at any point in 2022 to generate the final K-1 form I need for my taxes? Did he have to wait until 2023 like he said? Keep in mind he filed the 1040 that generated the 1099-S form already in 2022 after the house was sold.

Re: When Can a Successor Trustee File a 1041 to Generate a K-1 form?

Anonymous_ — Sun, 22 Dec 2024 23:56:50 GMT

Re: When Can a Successor Trustee File a 1041 to Generate a K-1 form?

PJhiker — Mon, 20 Feb 2023 00:04:27 GMT

Ok, so little confused on this. Did the Trust officially close when he paid me my portion and he filed the 1040 and received the 1099-S? Does the 1040 generate the 1099-S like I think? And, if that is the the official close date your'e saying he should have filed the 1041 4 months after that official date which would be in Sept. of 2022 because that is 4 months after May? Or, because the tax year is 2022 he does have until 2023 until he can file the 1041 to generate the K-1 form?

Re: When Can a Successor Trustee File a 1041 to Generate a K-1 form?

Anonymous_ — Sun, 22 Dec 2024 23:57:07 GMT

Re: When Can a Successor Trustee File a 1041 to Generate a K-1 form?

PJhiker — Mon, 20 Feb 2023 00:16:58 GMT

Ok, yes the 1099-S was issued to the Trust as it was in the Trust's name. So it does sound like he has until April of 2023 (this year) to actually file the 1041 from what I am gathering correct?

Re: When Can a Successor Trustee File a 1041 to Generate a K-1 form?

Anonymous_ — Sun, 22 Dec 2024 23:57:23 GMT

Re: When Can a Successor Trustee File a 1041 to Generate a K-1 form?

PJhiker — Mon, 20 Feb 2023 01:25:24 GMT

So I guess I should file for an extension in case?

Re: When Can a Successor Trustee File a 1041 to Generate a K-1 form?

Anonymous_ — Sun, 22 Dec 2024 23:57:42 GMT

Re: When Can a Successor Trustee File a 1041 to Generate a K-1 form?

PJhiker — Mon, 20 Feb 2023 03:47:37 GMT

Not too large. But, my brother is doing everything he can to make my life hard. Here is a question. Could he have filed the 1041 in 2022 and generated a final copy of the K-1 and gotten it tome, regardless of his W-2 and meeting with a tax pro in early 2023?

Re: When Can a Successor Trustee File a 1041 to Generate a K-1 form?

Anonymous_ — Sun, 22 Dec 2024 23:58:00 GMT

Re: When Can a Successor Trustee File a 1041 to Generate a K-1 form?

PJhiker — Mon, 20 Feb 2023 15:19:48 GMT

So, him saying he could not do it until 2023 when he got his W-2 is a load of crap then right? He could have gotten the K-1 form to me in 2022 after everything was official on selling the house and he distributed me my funds? Also, he never opened a bank account for the Trust and wrote the check to me from his own personal account once the house sold. Was that legal for him to do it like that?

Re: When Can a Successor Trustee File a 1041 to Generate a K-1 form?

Anonymous_ — Sun, 22 Dec 2024 23:58:17 GMT

Re: When Can a Successor Trustee File a 1041 to Generate a K-1 form?

PJhiker — Mon, 20 Feb 2023 15:34:53 GMT

But, is not his fiduciary duty to issue the K-1 in timely manner? He has an obligation to maximize my benefit as the beneficiary and communicate with transparency on relevant topics like this so I can arrange for a tax pro meeting right?

Also, How do you file for an extension beyond the April 18 deadline electronically? I've never done this and how long does the extension go to? is it done at the IRS site or can I do it on Turbo Tax? It says something about doing it through Direct Pay on the IRS and estimating my payment to do it?

Re: When Can a Successor Trustee File a 1041 to Generate a K-1 form?

Anonymous_ — Sun, 22 Dec 2024 23:58:35 GMT

Re: When Can a Successor Trustee File a 1041 to Generate a K-1 form?

Anonymous_ — Sun, 22 Dec 2024 23:58:57 GMT

Re: When Can a Successor Trustee File a 1041 to Generate a K-1 form?

PJhiker — Mon, 20 Feb 2023 15:50:45 GMT

Is the extension good for both federal and state? Is it just a form I submit through Turbo Tax and I get a response to confirm it is approved?

Re: When Can a Successor Trustee File a 1041 to Generate a K-1 form?

Anonymous_ — Sun, 22 Dec 2024 23:59:11 GMT

Re: When Can a Successor Trustee File a 1041 to Generate a K-1 form?

PJhiker — Mon, 20 Feb 2023 16:19:53 GMT

But how can I pay by April 18 if I don't get the K-1 in time to know the right numbers?

Re: When Can a Successor Trustee File a 1041 to Generate a K-1 form?

PJhiker — Mon, 20 Feb 2023 16:33:11 GMT

It appears that in California the tax deadline to file and pay is May 15 for those living in counties effected by the recent floods. I live in one of those counties.

Re: When Can a Successor Trustee File a 1041 to Generate a K-1 form?

Anonymous_ — Sun, 22 Dec 2024 23:59:25 GMT