Trust Fiduciary K-1 - where does it go?

We are fiduciaries for a small trust. It was distributed during 2022. It had a loss. We sent the K-1 to the beneficiary, but we need to send a copy to the IRS, right? Is there a way to do that through TT with electronic filing? If not, then where do we send the paper copy?

Thanks!

259

Expert Alumni

Mar 27, 2023 2:42:35 PM

You need to file an entire Trust tax return with the Schedule K-1 (Form 1041). You can do this in TurboTax Business, but it may be beneficial for you to contact a tax professional in your area to ensure you complete and file the forms correctly.

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Trust Fiduciary K-1 - where does it go?