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I am filing 1041 for a trust and have interest that partially belongs elsewhere
I have a 1099-Int that came in against a Trust. A portion of this belongs to a decedent return and I have created a 1099 using QEF for that person. Do I now just enter the portion that belongs to the trust, or do I enter the full amount and show a negative adjustment? If I need to show a negative adjustment, do I do that like a new 1099-Int with a negative number? Who would be the 'payer' of the negative value?
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‎February 25, 2021
8:57 AM