Hi, I received about 1/3 of an inheritance so far (first deposit on Feb. 22, 2019). I'm in CO. My Attny is CA. Says to file an extension. ??

[thelucky122]

 Why would I file an extension now during 2018 tax time?

[Rachel_W · Accepted solution]

Currently, an extension for your individual tax return can only be filed for Tax Year 2018.  I suggest contacting the Attorney for clarification on what he/she meant.

[thelucky122]

I'm sorry I meant to type 2019 this year I received money. Why is he saying file an extension all of a sudden?

[Rachel_W]

Thanks for clarifying.  The attorney is probably asking you to extend your return because he needs extra time gathering all the information needed for your 2018 return.  It is possible that assets (property, stocks, etc) were sold in 2018 even though you didn't receive any money until 2019.  Also, he may be expecting that there will be a K-1 from the Estate that you need to include on your return.

[thelucky122]

Thank you - this is what I was thinking...so, I put 0 in the guessed taxed owed and then hit "free extension". Why did it go to a long page with my credit card information. Makes me nervous Thanks!