jtax
Level 10

Business & farm

@Anonymous @clearviewhi sorry I missed seeing the added info.

 

What is going on is the TT needs to know the proportion of foreign income to US/wordwide.

 

So you are correct that $781 appears to be the gross foreign source include for you as a beneficiary.

 

Take a look  at the rest of the K-1 to determine your total gross income as a beneficiary. For trusts with just investment income that is probably given in Box 14 code E (net investment income). [This might be different, I'm not sure, if the trust runs a business, rents real estate, etc. Then the numbers in box 6 and 7 might or might not be includes. I'm not sure. Let me know if you have those.]

Then by definition your gross US income sourced at the bene level is the difference (total gross - foreign gross).

Please do verify that box 14 code E sums to the total of the other income boxes. If not ask again because I might have something wrong. Note that box 2b is a subset of what is in box 2a so don't count that twice.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"