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November 27, 2024
Question

DISTRIBUTING MONEY FROM AN INHERITED IRA IN A TRUST TO A BENEFICIARY

  • November 27, 2024
  • 1 reply
  • 0 views

As a Trustee if I distribute money from an Inherited IRA in a Trust to a Beneficiary and send a check does the check have to be deposited by the Beneficiary during the same tax year? For example, if I mailed a check on December 31st, 2024 to a Beneficiary but it wasn’t deposited until 2025. Are K-1’s for 2024 issued in 2025?

    1 reply

    Employee
    November 27, 2024
    No text available
    trust812Author
    November 28, 2024

    When is the latest a K-1 can be filed for a given tax year? 

    VolvoGirl
    Employee
    November 28, 2024

    I imagine by April 15 the same as the due date for the 1041.  1041 Instructions

    https://www.irs.gov/pub/irs-pdf/i1041.pdf