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Posted

I am doing the first/final estate income tax return.  The house has already sold.  The will divides up the house by three (nieces & nephew), and any remaining property 25% is split by 3 charities and the remaining 75% by the 3 nieces/nephew.

Are the K1s a) 33.33% to each person or,

b) 8.33 to each charity and 25% to each individual? 

Or do I c) put the loss carryover to the 3 individuals and then use b?

I am fried and overthinking I think.  I think its c.

Posted

Is there any income to be distributed? Was the house sold at a loss, like it usually is?

The charities get their specific bequests and the bene's split the rest 1/3 each, but so 33.33333 is correct, but make one 33.33334 so it adds up to 100.

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