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Form 1041 K-1 Final Trust activity
Hello, I have a final trust 1041/K-1 with a whopping $28 on box 11A and it's also listed in box 14B, that is all the activity. The "Excess Deduction Detail (Line 11) attachment says 'Section 67(E) Expenses (Used in arriving at AGI) Fiduciary Fees $28 and then "Excess Deductions Allocable to Net Investment Income $28 (See Form 8960 Instructions). Of course we already filed, so I was going to amend if I can figure out how to easily (key word "EASILY") run this through. 14B says "foreign income" on the code def box. And I have no idea what form 8960 is. What the heck do I do with this? I entered the amount and skipped as many boxes as I could. Also have state of Md return. Any "step by step" help would be appreciated. THANK YOU!
March 18, 2023
8:02 AM