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mganter47
New Member

Trust state business income tax required in Texas & K-1

I have a trust with $500 of dividend income for 2023.  Why does turbotax state that I am required to file a state business income tax return in Texas?

 

Also, none of the dividend income was distributed.  Is a K-1 required?

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Trust state business income tax required in Texas & K-1

See https://comptroller.texas.gov/taxes/franchise/faq/taxable-entities.php

 

 

 


@mganter47 wrote:

Also, none of the dividend income was distributed.  Is a K-1 required?


No, not if the trust assumes any tax liability.

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