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Level 4
posted Oct 7, 2024 3:07:17 AM

Form 1041 Schedule K-1 Question

This might be a stupid question but as a Successor Trustee of a Trust with it’s own Tax ID which has a Sub Trust for a Beneficiary with it’s own Tax ID  which one files the K-1 when money is distributed from the Sub Trust Beneficiary’s IRA? If there was no Sub Trust it would be on the K-1 from the main Trust.

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3 Replies
Level 15
Oct 7, 2024 5:28:10 AM

Level 4
Oct 7, 2024 3:58:36 PM

There is a main Trust with its own Tax ID and 2 SubTrusts under the main Trust each which have their own Tax ID. 

Level 15
Oct 7, 2024 4:51:19 PM