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Schedule K-1 Question

1.  I am the trustee of my uncle's (passed away).

2. His trust owns a percent ownership of a shopping mall (mall)

3. The mall management co. (mgtco) sent me a K-1 (K-1 Mall) to use for the Trust's taxes.

4. I then received a K-1 for the beneficiaries (K-1 Benef)

5. Question: Do I need to send all beneficiaries BOTH K-1s or only the K-1 Benef?

 

First time with K-1s and it's so confusing (at least to me).


Thank you in advance to anyone that can help me!

 

Best Regards. 

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1 Reply

Schedule K-1 Question

do both k-1's have the same taxpayer (partner's) identification number in Box E and is the number the same as the EIN of the Trust? if so, they should both have the same numbers on the form. In this case, you only enter once. 

however, I'm as confused as you as to why two k-1s were issued. If different, you would need clarification from the management company because this forum has no access to the k-1s  

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