ESTATE K1- delayed for the 3rd year !

[Redrocr]

What is the name of your state (only U.S. law)? California
For the third year in a row the administer of our estate is waiting till the 11th hour to mail our K1's before the April 15th deadine. The Estate has done the final distrubution. Half of the beneficiaries are not speaking to the Administrator due to his abuse of Estate funds. As beneficiaries, my question is- are we by law able to contact the tax preparers just to get the *deduction amount* the Estate losses for 2014, so that we do not have to file amended taxes. I know this amount is filed with the IRS, so why can't we just get this amount given to us so we can proceed with out taxes?
Our Administrator sends in a email- " the loss was $22,300- just divide that by 9 and that's your amount.. Really????

 

[Stephen1]

Skipping over the reasons why the K-1 is provided at the last second (and there can be valid reasons such as delayed or late receipt of info by the executor), as this is the 3rd year you are on notice that you will be receiving a K-1. So plan for it. If it hasn't arrived in time for you to be comfortable filing your return then file for an extension. Use the numbers from the executor as part of your estimate of the income you have to file on. After you receive the K-1 then you will have plenty of time to file your actual return with the actual numbers. Remember to send in with the extension request any taxes you may still owe.

 

[davew128]

You can contact the preparer, just don't be surprised when you don't get a response. You're entitled to your K-1, but beyond that his client is the administrator, not you.