I have a new client this year who brought in a 1099-R that has a distribution, as well as withholding, which is in the name of an Irrevocable Trust. The recipients TIN, is NOT my client's SS #. My understanding is that this should be reported on Form 1041, however it looks like this has never happened with their prior accountant, this 1099-R was reported on their Form 1040. I am not a trust expert, however based on my research, I do believe they have been reporting this incorrectly, especially since there is withholding. Any advice on this would be greatly appreciated!
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It sounds to me that you are correct.
I agree that you are correct. You should get a copy of the trust so that you can find out whether the income should be distributed or taxed at the trust level.
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