Discussion:Schedule K-1 Trust filing requirements
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Discussion Forum Index --> Advanced Tax Questions --> Schedule K-1 Trust filing requirements
Discussion Forum Index --> Tax Questions --> Schedule K-1 Trust filing requirements
| 22 June 2008 | |
| What is the requirement for filing a Schedule K-1 trust following a 1041 filing? The trust tax year was from April 2007 to March 2008, and was a final filing, but the form Schedule K-1 is a 2007 form showing interest and other dividends, etc. from the trust distribution. Does the K-1 require an amended filing of client's 1040 for the 2007 tax year or will the K-1 have to filed for the 2008 tax year? | |
| 22 June 2008 | |
| The K-1 is filed by the trust as part of its 1065.
The K-1 is not filed by the recipient beneficiary. The info. on a 2007-2008 fiscal year K-1 is included on the 2008 tax return of the beneficiary. -- Larry Hess, CPA | Albuquerque, NM | Talk to me | |
| 23 June 2008 | |
| One possibility I can think of is the election provided by Sec. 645 for a trust to file as an estate. -- Larry Hess, CPA | Albuquerque, NM | Talk to me | |
| 23 June 2008 | |
| First poster, please complete your profile for an answer. This is not a subject for DIYers. Get yourself a good cpa. | |
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