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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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.
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.
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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