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Level 3
February 18, 2020
Solved

Fiduciary tax return

  • February 18, 2020
  • 1 reply
  • 15 views

Working on a tax return for an estate in which 60% of income goes to individual beneficiaries and 40% goes to various religious organizations.    Do I list the charitable organizations with the other beneficiaries (so the result totals 100% of the income) or do I list them separately in the Charitable Deduction section - or both??  This is the final return for the estate.

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Best answer by eawholovestax

If the Charitable organizations are residual beneficiaries you list them with the individuals and issue them a k-1.  If the decedent left a  specific bequest to the charity then you do not issue a k-1 to the charity. 

1 reply

Level 2
February 19, 2020

If the Charitable organizations are residual beneficiaries you list them with the individuals and issue them a k-1.  If the decedent left a  specific bequest to the charity then you do not issue a k-1 to the charity.