Father passed away... SSN or EIN for taxes

[Rockhoundrob]

Father passed away Oct 2024. He had a trust set up with his SSN. After he passed away, I had to get a EIN for the trust. He invested in a company where he gets cash distribution monthly. They send him a K-1 for taxes at the end of each year.

Do I tell the company to use his SSN on the 2024 K-1 which was good  until Oct, or do I need to tell the company to use the new EIN?

NOTE: he got 2 cash distributions to the trust for Nov and Dec (after he passed away).

[M-MTax]

Is this an MLP? Do you know? Have you contacted the company? Are you planning to liquidate the investment for the trust?

You should contact the company and give them the EIN. They will probably still issue the K-1 with your father's name and SSN anyway. You can report the income post-mortem as IRD but if the distributions are return of capital that's different. You might want to check with a local tax pro if this is an MLP because they are tricky.

I'm sorry for your loss.

[Rockhoundrob]

It is a family business that rents out a commercial building.

It is a limited partnership that is a pass-through entity. All taxes are paid by each partner (my father and Uncle) using a K-1 for each.

The trust allows my father to pass his ownership to my sister and I and we plan to keep his share.

Normally, we just have income and expenses and taxes are easy. No overhead, inventory, etc...

So it is straight forward. 

So bottom line is:

1) Do we make a K-1 using the SSN for my dad, or do we use the EIN for the trust?

2) Since my dad passed away in Oct, can we simply use the EIN or SSN for the whole year?

[Rockhoundrob]

One more note... the cash distributions to each partner are based on the income from rent only.