I am working on duplicating a 2019 Form 1041 Complex Trust using ProConnect and H&R Block software to see if I can come up with the same numbers for all of the forms and schedules.
*The Trust is paying the income tax on dividends, interest and capital gains, not the beneficiaries.
In this case, is there any need to include three beneficiary Schedule K-1 with no numbers?
In the 2019 completed Tax return copy that I am reviewing, I see three Schedules K-1 beneficiaries with no numbers on them.
My guess is that there is no need for the K-1s if the Trust is paying the tax.
ProConnect would not allow me to generate K-1 ones with no numbers, since I think having K-1 means the income is distributing to the beneficiaries, which in this case, it is not.
Please advise and comment. Thank you!
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