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New Member
posted Jun 16, 2025 10:48:57 AM

FORM 1041 REPORTING INHERITANCES

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?

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1 Best answer
Level 12
Jun 16, 2025 10:57:13 AM


@Judes1 wrote:

DO THESE INHERITANCES NEED TO BE REPORTED ON THE FINAL 1041?


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

2 Replies
Level 12
Jun 16, 2025 10:57:13 AM


@Judes1 wrote:

DO THESE INHERITANCES NEED TO BE REPORTED ON THE FINAL 1041?


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

New Member
Jun 16, 2025 11:13:23 AM

THANK YOU!!!