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sherfegl
Level 3
April 6, 2022
Question

FORM 1041 K-1

  • April 6, 2022
  • 4 replies
  • 12 views

Can any one tell me if federal k-1 form 1041 estate other portfolio income (line 5) is taxable to Pa?

 

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4 replies

Just-Lisa-Now-
Just-Lisa-Now-Intuit Community Champion
Intuit Community Champion
April 6, 2022
why wouldnt it be taxable to PA?
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
    S
    sherfeglAuthor
    Level 3
    April 6, 2022

    My thinking is the pa inheritance tax return that was filed.

    I really don't know. I hoping someone has experience with this 

    and can guide me. I have been looking and researching

    and I can not find anything definite.

    sjrcpa
    sjrcpa
    Level 15
    April 7, 2022

    Inheritance tax is totally separate from income tax.

    The more I know the more I don’t know.
    D
    Dusty2
    Level 6
    April 6, 2022

    Unless you have an RK1 that shows the money is not taxable yes.  It will show up on the est/trust worksheet.

     

    Dusty

      S
      sherfeglAuthor
      Level 3
      April 6, 2022

      Thank you all very much.

      BobKamman
      BobKamman
      Level 15
      April 7, 2022

      Probably taxable to Ma also.  But if this is a Pencilvania question, isn't that where @PATAX is located?

      sjrcpa
      sjrcpa
      Level 15
      April 7, 2022

      Took me a minute to get that.

      The more I know the more I don’t know.
      T
      taxes96786
      Level 8
      April 7, 2022

      Read the PA K1 instructions

       

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