Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProSeries Tax
- :
- ProSeries Tax Discussions
- :
- Hus/wife have trust that owns 2 LLCs w rental income & 2 LLCs that own securities w dividend income. Do H&W need to file a 1041 or as K-1 income on Form 1040?
Hus/wife have trust that owns 2 LLCs w rental income & 2 LLCs that own securities w dividend income. Do H&W need to file a 1041 or as K-1 income on Form 1040?
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
jjm-cffsllc-com
Level 1
04-03-2024
06:26 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Does a 1041 have to be filed with the LLC income or can the taxpayers include the LLC income via K-1s?
Labels
1 Comment 1
IRonMaN
Level 15
04-03-2024
07:04 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
A two member LLC generally means a partnership return needs to be filed. As far as trust reporting goes, an irrevocable trust requires to be reported on a 1041 but a revocable trust is treated as if the taxpayers still own things personally.
Slava Ukraini!
