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Dimitry Esquire
Dimitry Esquire, Attorney
Category: Estate Law
Satisfied Customers: 41220
Experience:  JA Mentor. I run my own practice that specializes in Estate Preparation and Administration
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My dad pass a way in 2013 on which s only assets was s home

Customer Question

My dad pass a way in 2013 on which his only assets was his home which he purchase in 1982. The home was left to me and my brother. In 2013 I received my EIN for the estate. The home sold in May 2, 2016 my question is since I am in charge of the estate will I have to issue out a K1 to my brother for his half of the proceeds from the sale of the home when we file our taxes for 2016?
Submitted: 4 months ago.
Category: Estate Law
Expert:  Dimitry Esquire replied 4 months ago.

Thank you for your question. Please permit me to assist you with your concerns.

What governs here is when the property was sold, not when the EIN was obtained or when probate was started. As such, since the estate finally sold the property in 2016, and I presume the proceeds of the sale will be shared between you and your brother, as the executor of the estate you would indeed need to fill out and file the K1 (541) form in California:


Dimitry, Esq.

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