I received a K1 form for the sale of inherited property but I haven't received funds. Why do I owe capital gains if sale proceeds still in estate?

[User70]

I received a K1 form for the sale of inherited property but I haven't received funds. Why do I owe capital gains if sale proceeds are still in the estate? The executor has not distributed to heirs. 

[Mike9241]

these are questions for the executor.  

[User70]

Yes it is but the executor is not that reliable… I just wanted feedback from what others may know about this. Just seems odd to pay for capital gain taxes without any distribution of it to the heirs. 

[tagteam]

I concur with Mike, but the IRS will receive a copy of the K-1 and there will be a mismatch if you do not report it.

Contact the executor for further information about the distribution.