thetaxdoctor
Level 1
10-14-2021
06:44 PM
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Hi,
There is a trust that is the owner of a K-1 and the taxpayer also has a K-1 for the same entity as an individual.
Should the K-1 where the trust is listed as an owner be allocated for on a separate trust return versus on the taxpayer's return?
It might an inter-vivos trust, does that type of trust have to file a separate trust return? There are also multiple states that have documents related only to the portion where the trust is listed as the owner not the individual.
Thanks.
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