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C
Consul1
Level 2
March 23, 2022

How many K-1 with 1041?

  • March 23, 2022
  • 1 reply
  • 7 views

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?

    This topic has been closed for replies.

    1 reply

    sjrcpa
    sjrcpa
    Level 15
    March 23, 2022

    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.

    The more I know the more I don’t know.
    C
    Consul1Author
    Level 2
    March 23, 2022

    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
    sjrcpa
    Level 15
    March 23, 2022

    I wouldn't 

    The more I know the more I don’t know.
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