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Barrister
Barrister, Attorney
Category: Legal
Satisfied Customers: 33801
Experience:  15 yrs practice, Civil, Criminal, Domestic, Realtor, Landlord 26 yrs
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Today My wife received a K-1 form which had an amount of

Customer Question

Today My wife received a K-1 form which had an amount of just under $3,000. Would this reflect the entire amount of her share of inheritance?
JA: What state are you in? It matters because laws vary by location.
Customer: Pa
JA: Has anything been filed or reported?
Customer: The letter and form came from the Law offices that handled estate
JA: Anything else you want the lawyer to know before I connect you?
Customer: We have reported nothing. Not sure what you mean?
Submitted: 1 month ago.
Category: Legal
Expert:  Barrister replied 1 month ago.

Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply, but rest assured, I am working on your question.

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Would this reflect the entire amount of her share of inheritance?

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That is unlikely because a K-1 is only filled out for income that is distributed to a beneficiary rather than retained by a trust so it doesn't have to pay very high income taxes on it.

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If wife is a beneficiary of a trust, she can just contact the law firm and request a copy to see what her inheritance is.

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thanks

Barrister

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