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HokieJay

Joined: 10/08/1999 Posts: 26120
Likes: 3755

What's this?

BTW I am not an accountant but just inherited some $, also...


...the K1 is not an inheritance tax. The money you inherited may have been invested in a partnership prior to transfer to you. The income generated from the time of the death of the person who left you the estate and the time of the transfer to you will probably generate 1099(s) and K1(s) for the income generated after the death and prior to transfer to you.

(In response to this post by JoesterVT)

Posted: 04/15/2022 at 12:43PM


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Current Thread:
 
  Tax question...I think I need a guy. Lounge advice accepted/paying gig ava -- JoesterVT 04/15/2022 11:45AM
  …Dewey, Cheatham and Howe ** -- chumley 04/15/2022 2:38PM
  Do you trust your wife? -- Tank 04/15/2022 1:48PM
  Get busy living or get busy dying. ** -- HokieJay 04/15/2022 2:38PM
  Follow-up....was able to do an amended retuen w/Turbo, but get this... -- JoesterVT 04/15/2022 1:24PM
  This guy will give you a nice discount... -- great2bahokie 04/15/2022 12:55PM
  BTW I am not an accountant but just inherited some $, also... -- HokieJay 04/15/2022 12:43PM
  K1s can be a bitch. How many taxable $ are we talking about? ** -- HokieJay 04/15/2022 12:09PM
  I dunno...lots of numbers on different pages .. -- JoesterVT 04/15/2022 12:14PM
  Well then yeah, refile. -- HokieJay 04/15/2022 12:30PM
  File a revised return ** -- HokieJamie 04/15/2022 12:01PM
  It's going to be a lengthy process -- jmanatVT 04/15/2022 11:54AM
  Shouldn't he call Crimestoppers before going to the PD? ** -- PhotoHokieNC 04/15/2022 11:57AM
  One option, (PITA) is to file a 1040X revised. TTax will let you. I know -- PhotoHokieNC 04/15/2022 11:53AM

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