I have been sent a k1 form for my fathers estate.

Forum|Forum|1 year ago
February 21, 2025
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I have been sent a K1 form for my fathers estate. He died in 2020 and this is the only tax form I have received in 2025.

My brother is the executor and is showing interest income of $5,000 on this form. I have not received any of this money. Needless to say, but my brother and I do not speak.

Should I include this K1 form on my tax returns and in the description explain that this is something that I have not received? Will this cause me to pay more taxes?

Any information would be helpful. Thank you.

DianeW777

It depends. It would cause you to have a higher income, which could mean more taxes. It depends on how much other taxable income you have on your return and if you are required to file an income tax return.

It is also important to find out if you will receive any of the money or if the estate return proceeds were used for expenses of the estate. At this point we can only explain the income is required to be reported from the K1.

Where do I enter a K1 I received?

You should speak with the person who prepared the estate return. If that is your brother and you do not speak, you may want to higher an attorney to speak on your behalf. We cannot offer or provide legal advice.

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