Under W&I: Does this Trust K-1 mean the final one for this tax yr or final one ever?

[Anonymous_]

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[Anonymous_ · Accepted solution]

"Does this Trust K-1 mean the final one for this tax yr or final one ever?"

A final return, along with K-1(s) marked final, is prepared for a trust after the trust distributes substantially all of its assets and terminates, so it would be the final K-1 ever and not just for a certain tax year.

[johnandjanet2]

this is a final one ever I need to know if I don't take a distribution from an IRA account how much of the tax credit I have on the K-1 I can take

[Lisa995]

johnandjanet2, you may want to start a new post with your situation, your current question doesn't quite make sense.