Do I need K1 if all assets distributed were reported on 1099s
When my father passed away all his assets were in a brokerage in the name of his trust. His trust became irrevocable and all assets (stocks, bonds, cash) were distributed to his three children who all had new accounts set up at the same brokerage to receive the assets. We all received 1099s for the year of distribution and my father's irrevocable trust received a 1099 for the part of the year before assets were distributed. Do I still need to send out K1s?
Posted Feb 22, 2026, 4:59 PM UTC
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