Personal Finance (Not Investing) • Question about what tax year a K-1 should be included.

Fiscal year ending in 2024 will go on your 2024 return. Any fiscal year ending before 12/31/2024 is filed on the 2023 forms.

Is there a typo in the above? It's not making sense to me.

Still trying to make sense of the post from WAROB. Say the fiscal year ends in July 2024. The first sentence says the K-1 goes on your 2024 return. The second sentence says the K-1 gets filed on the 2023 forms. I don't understand that 2nd sentence. What forms? Beneficiary 1040, or estate 1041? Neither makes sense.

According the IRS, a K-1 is issued by the estate but typically is not filed, just kept with the estate records.

Statistics: Posted by SpideyIndexer — Fri Nov 01, 2024 1:19 am — Replies 10 — Views 963

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