topic Schedule K-1, Form 1041 in Get your taxes done using TurboTax

Schedule K-1, Form 1041

planeart — Mon, 06 Apr 2020 17:56:49 GMT

I am filing my mother's taxes. She is the beneficiary of the income from a trust located in West Virginia.

She files her taxes as a GA resident.

In TurboTax, K-1 Trust section,

In line 14 it is Code Z which is "other".

Under Income Detail it states "select the state and the amount of tax-exempt income interest reported...."

I have the amount but am unsure whether this should be designated WV (trust location) or GA (her residence).

Any help is appreciated

Re: Schedule K-1, Form 1041

Anonymous_ — Sun, 22 Dec 2024 23:47:57 GMT

Re: Schedule K-1, Form 1041

JamesG1 — Mon, 06 Apr 2020 18:29:26 GMT

Did the K-1 from the trust administrator provide beneficiary instructions, an attachment or enclosed schedule which provides the state information?

Re: Schedule K-1, Form 1041

planeart — Thu, 09 Apr 2020 15:59:51 GMT

Thanks to you both. The trustee is very busy so I wanted to ask here because I knew I would get a good answer!

Duh, I didn't scroll down to see the "more than one state" option. BTW, I also have a lot of trouble figuring out how to get back to that K-1 form once I've started it. It's probably just me but it's frustrating. I've had to mark it with a flag.

Thank you both!