Legal Question in Wills and Trusts in New Jersey

Re: Estate

Your brother is not doing what he needs to, it sounds like. I am not certain of that, but it is likely.

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Re: Estate

I would need more information to properly answer your question.

A K-1 may or may not be needed depending on whether the proceeds of the house were distributed to the beneficiaries.

If no distributions were made, then the estate would report the gain and pay the tax and no K-1 would be required. However, if the proceeds were paid out, then the executor should have prepared the estate's income tax return (form 1041) and K-1's should have been sent to the beneficiaries.

One other issue is the possibility that the estate is on a 'fiscal' rather than calendar year tax basis...if that's the case, the estate's tax year may not have ended on 12/31/06 and so the tax return and K-1 may not be due now.