Tax year ends 3/31 for estate that is closed on 5/31. Can a 1041 be filed for short year ending 5/31 resulting in 2 K1's for one tax year?
- posted
16 years ago
Tax year ends 3/31 for estate that is closed on 5/31. Can a 1041 be filed for short year ending 5/31 resulting in 2 K1's for one tax year?
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Yup. In the case above, if the year ended on 3-31-07 and the estate was closed by May 31, 07 the beneficiaries would get a 2006 K-1 and a 2007 K-1 to file with their 2007 returns.
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