@Anonymous_ “If that is $100,000 worth of corpus and no income or gain was distributed, then a 1041 would not even be required to be filed.”
OK. So if a 1041 Form wasn’t required to be filed because $100,000 was corpus and no income or gain was distributed thus a K-1 wasn’t given to the Beneficiary, even though the $100,000 corpus was distributed to the Beneficiary he or she wouldn’t have to declare it on his or her Form 1040. Is that correct? Thanks!
