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Business & farm
Still at it, with much new stuff learned and even more headaches re: SC filings. Assessing some options and wondering:
Am I "allowed" to file a federal 1041 for the trust, passing all income to beneficiaries on K-1s, BUT file a non-resident SC1041 which claims all SC income at the trust level only, NOT passing to SC K-1s - that is, have the TN trust pay the SC tax on the out-of-state rental property income and NOT pass that SC income on to the beneficiaries at the state level. Trying to keep the TN benefs from worrying about SC tax returns, especially if I make any mistakes. That is, keep the problems at the trust level.
March 16, 2024
8:09 AM