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Do all eventual beneficiaries, including all contingent beneficiaries, get a K-1 annually or does the trust only prepare a K-1 for those beneficiaries who receive a current distribution?
If only current beneficiaries get a K-1, is it safe to assume that the K-1's issued may change from year to year?
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Only those that get current distributions need to get K-1s. It's your choice as to whether you issue zero K-1s to the others.
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Thanks. How about with the 1041 filing itself? Should a K1 be prepared and attached for all eventual beneficiaries including those with no current reportable income?
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I wouldn't
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Thanks