Question
reporting of proceeds from sale of decedents primary residence to beneficiaries on 1041 K-1 forms
It is unclear to me if the distribution of non-taxable proceeds from the sale of decedents primary residence gets reported on schedule K-1 of a 1041 tax return. All of the boxes indicate the K-1 is only for reporting of income that the trust makes.
It's a pretty simple trust/1041containing only the proceeds from the sale of the primary resident and some interest income above the $600 exemption.
Can anyone clear this up?
thanks!
