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Get your taxes done using TurboTax
@Whitegj wrote:For the 1099 (amount $205) issued to the SSN, use a 1040 and mark final
For the 1099 (amount $30) complete the 1041 and mark final
Your figures are ridiculously small.
For example, with respect to the trust, the minimum exemption is $100 so you could prepare that 1041 manually without even needing to issue K-1s; the taxable income would be $0 (if you even wanted to bother filing that at all).
With respect to the interest paid and issued to your father's SSN, you could treat that as IRD (income in respect of a decedent) since the funds were issued with his SSN. Then, after distribution, inform the recipients to include their share on their 1040s as IRD.
‎January 21, 2024
1:12 PM