I dont have a k1 I am filing estate taxes on an estate financed vacant land sale. I only received a substitute form 1099-S

[IreneS · Accepted solution]

A K-1 is prepared as part of the estate return (1041).  Each beneficiary is issued their own K-1 and this is reported on their individual 1040 returns.

Report the sale of the land under Other Income or Loss.  Please follow these steps:

1. On the Income page, scroll down to the Other Income or Loss section and click the Start/Update box.
2. On the next screen, Other Income, enter the NET proceeds.

The information on the sale will flow to the K-1s for the beneficiaries.

[Edited | 4/10/2020 |  1:40pm PDT]