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jsbarber60
Returning Member

How do I report traditional IRA distribution received through a trust?

My father passed away last year. He left an IRA. The beneficiary of the IRA was a trust. My siblings and I are the beneficiaries of the trust. My siblings and I took the required minimum distribution, and the distribution is split equally among us. 

My question is: How/where do I report the distribution? I did not receive a 1099-R, and according to the IRA trustee, the trust is  the beneficiary of the IRA, and therefore all distributions are processed under the tax ID number for the trust. 

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1 Best answer

Accepted Solutions
Ashby
New Member

How do I report traditional IRA distribution received through a trust?

Assuming the trust completes a tax return(Form 1041), you should be issued a K-1 from the trust containing the RMD information and any other income/distributions attributable to you through the trust.

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3 Replies
dmertz
Level 15

How do I report traditional IRA distribution received through a trust?

To be clear, it's the trust that took the distribution from the IRA, not you or your siblings.  Since the IRA is maintained for the benefit of the trust, it's the trust that receives the distribution.  The distribution from the IRA must be reported on the trust's Form 1041 and the income would be distributed from the trust as described in TurboTaxAshby's answer.
Ashby
New Member

How do I report traditional IRA distribution received through a trust?

Assuming the trust completes a tax return(Form 1041), you should be issued a K-1 from the trust containing the RMD information and any other income/distributions attributable to you through the trust.

23
New Member

How do I report traditional IRA distribution received through a trust?

My Mom, as far as i know, never completed a 1041 form because she only got 80.00 a month the IRA has about $5000.00 in it. Don't know why she created trust she had no money but someone told her to. How do i fill this out

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