russ1
Level 3

Q.  If there is no DNI do I need to report the disrtibutions on schedule B line 10?

Details:  This is a first and final simple 1041 decedent estate.  The only asset was a bank account.  There was a little interest earned.  The fiduciary took a small fee that resulting in a net loss.  Then he paid out ~$800K to the beneficiaries in equal amounts to close out the accounts.

I entered the amounts as dollar disrtibutions to each beneficiary and the total shows up on the schedule B line 10.  Since there is no DNI, there is no deduction for the distributions.  Also, nothing shows up on the K-1s for the distributions (just the small 67e losses).

Is correct?  Or do I even need to enter the distributions?

Appreciate your thoughts.

Thanks,

 

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