Discussion:SE tax in an estate?
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Revision as of 16:36, 14 March 2009
Discussion Forum Index --> Advanced Tax Questions --> SE tax in an estate?
Discussion Forum Index --> Tax Questions --> SE tax in an estate?
| 14 March 2009 | |
| I have a client who was a Schedule C taxpayer. He died last year and is leaving his business to his brother. The probate has not yet been completed and therefore ownership hasn't officially passed to the brother. When preparing the estate 1041 for 2008, I see where the Schedule C income would be reported on page 1 as well as on the K-1, however, it looks like the Schedule C income is not subject to SE tax by either the estate or the beneficiary (K-1 instructions indicate the business income is reported on Schedule E of 1040). Am I missing something here? | |
