How many K-1 with 1041?

[Consul1]

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?

[sjrcpa]

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.

[Consul1]

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?

[sjrcpa · Accepted solution]

I wouldn't 

[Consul1]

Thanks