Inheriting property or other assets typically involves filing the appropriate tax forms with the IRS. Schedule K-1 (Form 1041) is used to report a beneficiary’s share of an estate or trust, including ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Lea Uradu, J.D., is a Maryland state ...

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Lea Uradu, J.D., is a Maryland state ...

If you invest in certain kinds of partnerships, LLCs, or receive income from some kinds of trusts, you'll get a Schedule K-1 from that organization. If you've ever invested in a business that uses one ...

Schedule K-1 tax forms are issued by MLPs, enabling investors to report their share of income and losses. Late issuance of Schedule K-1 can delay tax filings, sometimes requiring extensions. These ...