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Level 2
June 14, 2020
Question

1041 K-1 Question

  • June 14, 2020
  • 1 reply
  • 13 views

Does every eventual beneficiary, including contingent beneficiary, get a K-1 annually or does the trust only prepare a K-1 for those beneficiaries who receive a current distribution?

If only current beneficiaries get a K-1, is it safe to assume that the K-1's issued may change from year to year?

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1 reply

qbteachmt
Level 15
June 14, 2020

There is no need to keep asking the same question, more than once. You might want to go to the one you posted in the Developer's Group, here:

https://proconnect.intuit.com/community/lacerte-sdk-group/irrevocable-trust-1041-filing-beneficiary-entry/gpm-p/89198#M150

And edit it to remove the text and leave a message that it was the wrong place to ask a tax question, since they are programmers and not tax pros over there. Thanks.

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