@kwelch0424 wrote:
I am filing a final 1041 for mom who passed in 2025. She received K-1 stmts from her trust for her personal return. In TT do I delete her name as beneficiary and add my siblings since we received money from her estate?
@kwelch0424 What does this mean? You wrote:
"She received K-1 stmts from her trust..."
Statements? Plural, as in more than one? If so, from whom did she receive them? If she was the beneficiary of a grantor trust, then she should not have been receiving any K-1s since grantor trusts are treated as disregarded entities for federal income tax purposes.
If the trust was a non-grantor trust, then the trust might be receiving K-1s from other entities, such as from investments in limited partnerships, other trusts, or S corporations. Those would then be reported on the trust return (1041) and the trust would issue ONE K-1 to your mom to report on her individual income tax return (1040). Which is it?
Regardless, were there any other beneficiaries listed in your mom's trust? If the assets and income are substantial you should seek guidance from a local professional.
