FORM 1041 K-1

[sherfegl]

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

[Just-Lisa-Now-]

why wouldnt it be taxable to PA?

[sherfegl]

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.

[Dusty2]

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

Dusty

[sherfegl]

Thank you all very much.

[sjrcpa]

Inheritance tax is totally separate from income tax.

[sherfegl]

I only have a federal k-1, there is no pa k-1

I always thought if pa inheritance tax was paid, it shouldn't be taxed again.

[sjrcpa]

Inheritance tax is paid on the value of assets at the time of death.

Income tax is paid on income earned by those assets.

[BobKamman]

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

[sjrcpa]

Took me a minute to get that.

[taxes96786]

Read the PA K1 instructions