The Trust had very little income ($67 taxable) but expenses of well above that for the year (Trust Admin + Accounting + Legal etc. The K-1's generated by Turbo Tax to the beneficiaries (4 of them) are all blank. I have read that if the K-1's are blank then there is no point submitting them with one's taxes as it means there was no pass through of income to the beneficiaries as it was offset by expenses. Is this accurate?
