topic FORM 1041 REPORTING INHERITANCES in Get your taxes done using TurboTax

FORM 1041 REPORTING INHERITANCES

Judes1 — Mon, 16 Jun 2025 18:10:21 GMT

FINAL YEAR OF 1041 FILING: (1 )ALL TAX LIABILITIES WERE PAID BY ESTATE, FOR ALL THE YEARS APPLICABLE; (2) INHERITANCES WERE PAID OUT IN THE FINAL YEAR, AND AGAIN, ALL TAXES WERE PAID BY THE ESTATE. ALL INHERITANCES WERE LESS THAN $10,000 - DO THESE INHERITANCES NEED TO BE REPORTED ON THE FINAL 1041? IF SO, WHERE?

Re: FORM 1041 REPORTING INHERITANCES

M-MTax — Mon, 16 Jun 2025 17:57:28 GMT

@Judes1 wrote:
DO THESE INHERITANCES NEED TO BE REPORTED ON THE FINAL 1041?

No, you do not need to report distributions of corpus (principal).

Re: FORM 1041 REPORTING INHERITANCES

Judes1 — Mon, 16 Jun 2025 18:13:23 GMT

THANK YOU!!!