Beneficiary K-1

[dustoffgirl]

New to me neve had a benificarys K-1
So client has got a letter fro the trustee with a check for 13k and a K-1 box 11 marked with A- 431 and C- 2,048.
Question- Is there no reporting necessary for the 13k? Its no where on the K-1 and I see that C is for a short term capital loss and the A for Excess deductions on termination so the 13k does not have to be reported because its from some sort of a loss in the estate correct?
Any info would be great first time i have every come across this type of K-1

[Burke]

The check is probably a final distribution of assets from the estate. The K-1 is what you use for his taxes -- income and deductions. Apparently, no income. Just carry-thru deductions on termination. STL goes on Sche D. Excess deds amt goes to Sche A.

[dustoffgirl]

Thanks

Thanks Burke thats exactly what I did the client was just convienced that they have to claim the income. Once again Burke you have cleared my mind thanks again.