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R
ROCKYMAJIC
Level 1
June 8, 2023
Question

CHANGING AND/OR ADDING BENEFICIARIES TO A TRUST FORM 1041

  • June 8, 2023
  • 1 reply
  • 14 views

I AM WORKING ON A FINAL TRUST RETURN.  THE ORIGINAL BENEFICIARY HAS PASSED AND I NEED TO ISSUE A K-1 TO THE NEW BENEFICIARIES.  I AM TRYING TO PASS THE LTCL TO THE NEW BENEFICIARIES.  

 

SO BASICALLY I AM TRYING TO DELETE THE OLD BENEFICIARY AND REPLACE HER WITH THE NEW BENEFICIARIES.  ANY ASSISTANCE WOULD BE APPRECIATED.

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1 reply

Just-Lisa-Now-
Just-Lisa-Now-Intuit Community Champion
Intuit Community Champion
June 8, 2023

You should be able to edit the old K-1 worksheet to the new beneficairies info, or add a new K-1 worksheet for an additional beneficiary. 

Once you mark the 1041 as Final, the Cap Gains "should" pass out to the K-1s, if they dont, if you scroll down down down the Sch D, you'll find a table to allocate to the benes rather than the trust.

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