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USER987456
Level 4
Mar 21, 2023 3:46 PM UTC
Question

K-1 question

My siblings and I have an irrevocable trust that first time last year sent out distributions. We were issued K-1 forms which my accountant had no issue with. My sisters accountant is asking for a 1099-R which I believe is not

needed if using K-1 correct?

 

Thank you,

    2 replies

    MinhT1
    Alumni - Intuit
    Mar 21, 2023 4:02 PM UTC

    A trust will file a form 1041 as its tax return and will issue Schedule K-1 form 1041 to its beneficiaries. A trust does not issue form 1099-R.

     

     

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      USER987456Author
      Level 4
      Mar 21, 2023 4:13 PM UTC

      That was the impression I had as well, Thank you again!

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