I'm working on Form 1041 for a complex trust (grantor deceased). The trust contained some stocks/mutual funds which were split between the two beneficiaries (not liquidated). If no dividends, gains, etc. were earned on them while in the trust (after grantor's death until transferred to beneficiaries), is there anywhere they need to be reported on the trust Form 1041 or on the beneficiary K1s? No 1099s were received for them under the trust EIN.
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No. but the beneficiaries will need to be informed about their tax basis in those securities
No. but the beneficiaries will need to be informed about their tax basis in those securities
Thanks. Yes, beneficiaries have been informed of the cost basis for their inherited securities.
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