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Thanks Kelly, James, and William, for your responses. I agree, that is what I intend to do; report the income in the 2025 year I certainly believe that is proper treatment, and also ethically correct. ...

Taxpayer died in November 2025. He was sole owner of two LLC's that had elected to be taxed as S-Corporations He also had other single member LLC's that hold rental real estate and non-rental investment ...

Current IRS guidance is report when received. That is a flip from original guidance of report in the year generated. ------------------------------ Kelly Myers kellymyersconsulting@gmail.com Myers Consulting ...