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but when should he send me the K-1 so I can do so?

The fiduciary return is due 3 1/2 months after the end of the year (April 15 for a calendar year estate). There is no specific time that the K-1 needs to be delivered to the beneficiary.


I disagree. The K-1 must be delivered (mailed) on or before the date the return is filed. (I assume, however, that you really meant that the K-1 wasn't due on January 31, like W-2s and 1099s.)

However, since you are the executrix of the estate (as well as the beneficiary) you'll know when the return is done as you will need to sign it.

I mention the fiscal year thing, because it is possible (and I've done it a couple of times) to put the estate on a fiscal year so that only one return needs to be filed, rather than two. It cuts down on expenses for the estate, and it takes a little of the tax season burden off of the preparer. If you anticipate winding up the estate and distributing all of the assets to yourself soon, you might consider that. It also means that the income from the K-1 won't need to be included until you file your 2002 return, avoiding amending your 2001 taxes.


I would guess that this is what the attorney is doing. I am handling a personal return for a client who is in that exact situation. Spouse died in 2000, estate was placed on a fiscal year, income and assets distributed to beneficiary and trusts before end of fiscal year, income being reported now by beneficiary.

Ira
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