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New York State Beneficiary of a Florida Trust Inherited IRA

If a Trust is in Florida and it receives a 1099-R for an Inherited IRA’s and 2 of the Beneficiaries who live in New York State are issued 1041 K-1’s do any other tax forms for have to be issued or filed by the Trust with the state of New York? I would think not since it’s a Florida Trust. 

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2 Replies
SabrinaD2
Employee Tax Expert

New York State Beneficiary of a Florida Trust Inherited IRA

Yes, you are correct that a Florida trust doesn't need to file tax forms with New York State simply because some beneficiaries reside there. Here are some points to support this:

 

New York State Beneficiary of a Florida Trust Inherited IRA

Thank you! That’s what I thought and it makes sense.

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