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Business & farm
The K-1 Form that I received as a beneficiary of a trust does not show the gross foreign income anywhere. I got a copy of Form 1116 for the Trust from the Trustee, and that does show gross foreign income and gross income from all sources (higher than the gross income I actually received, due to deductions I guess). So can I use the ratio from Form 1116 (gross foreign income/gross total income) and apply that to the gross income reported to me on Form K-1 to determine the foreign income sourced at the bene level?
Thank you.
March 22, 2023
4:18 PM