Table of Contents.

Description:

An estate or trust can generate income, and at the end of the year, all income distributions made to beneficiaries must be reported on a Schedule K-1 (1041). Form 1041 is also used to report any income a trust earns over $600. This textbook examines everything you need to know to properly report the information provided to the beneficiary on a Schedule K-1 on their individual tax return.

K-1s for 1041 covers:

• Identifying the character pass-through income from an estate or trust.
• Various items reported on Schedule K-1.
• Reporting Schedule K-1 items on the beneficiary’s return.
• Reporting items on the beneficiary’s return associated with estate or trust interest but not reported on Schedule K-1.

Product Details:

Level: Basic level

Author: NATP Staff

Publisher: NATP

Publication Date: 2019

Format: Print

Nonmembers – Join Now, Save More!

Corresponding CPE Courses:

Get the e-book FREE when you purchase the corresponding course below.

K-1s for 1041 Self-Study Course