Question
S Corp Final tax return due to Death
My client was the one and only owner of a S-Corp. He passed in 2024, but the business still had some income in 2025, employees and other expenses until it sold in March 2025. We set up an Estate to record the income and expense for 2025, so the K-1 will be the Estate.(I hope this is correct)
We want this to be the final return. I need some help with adjusting the beginning stock basis. The deceased owner also had loaned the business money that is still on the books.
Does this all go on the K-1 for the Estate to file a return
Thanks
