Welcome back! Ask questions, get answers, and join our large community of tax professionals.
  • Sign In
  • Created with Sketch. We apologize for the inconvenience: Our community is currently in read-only mode while we perform essential maintenance. Some features may be temporarily unavailable. We’re working hard to restore full access as quickly as possible.
    cancel
    Showing results for 
    Search instead for 
    Did you mean: 

    How do you designate a trust that is partially "simple" and partially "grantor" (because of holding C-corp and is a QSST?

    mepayne59
    Level 1
    The trust owns C-Corp stock and is making a QSST election.  Therefore, part of the trust is reporting as a "grantor trust" for the S-Corp activity.  It also holds partnership interest and is required to distribute all income, therefore is also a "simple" trust.  Is there a way to get both boxes checked on page 1 of the 1041, and then just have a footnote on the K-1 for the QSST activity?

    This discussion has been locked. No new contributions can be made. You may start a new discussion here

    2 Comments 2
    sjrcpa
    Level 15

    With a pen since I believe this return needs to be filed on paper.


    The more I know the more I don’t know.

    I'm having the same problem. Is this going to be fixed? Or is there a work-around?

    0 Cheers