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Posted by Paul Thomas, CPA on March 6, 2008, 11:21 am
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> 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?
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.
--
Paul A. Thomas, CPA
Athens, Georgia
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