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"Does the K-1 get reported separately on the individual return or are the numbers already included in the trust brokerage statement."
If I understand what you are asking, it's the other way around.
The K-1 is the operational perspective from the Trust held by your client's trust.
The brokerage statement for your client's trust is the effect of the buy/sell of that (sub-)Trust which issued the K-1 to your client's trust. You would not have the (sub) Trust's brokerage statement, unless you are filing for that (sub) Trust and you are the one issuing the K-1 for its operations to the holders of that (sub) Trust, including your client's own Trust.
You have an envelope (client's Trust) with investments inside of it. That K-1 is from inside of the envelope and not from the envelope.
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