Question
Trust and Partnerships K-1s issue
Hi,
There is a trust that is the owner of a K-1 and the taxpayer also has a K-1 for the same entity as an individual.
Should the K-1 where the trust is listed as an owner be allocated for on a separate trust return versus on the taxpayer's return?
It might an inter-vivos trust, does that type of trust have to file a separate trust return? There are also multiple states that have documents related only to the portion where the trust is listed as the owner not the individual.
Thanks.
