Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- Lacerte Tax
- :
- Lacerte Tax Discussions
- :
- CA taxation of non-resident trust
CA taxation of non-resident trust
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
Consul1
Level 2
06-11-2020
02:27 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Non-resident irrevocable simple trust with CA trustee (1 of 2 total) and CA beneficiary (1 of 10 total) has NO CA SOURCE income. Income consists of dividends and rental income from out-of-state property. This year, ALL income is distributed to CA beneficiary.
CA trust tax return schedule G shows 55% of income reportable to CA (1/2 of income + 1/10 of income).
Should CA K-1 to beneficiary reflect distribution of 55% of income or 100% of income?
Labels
This discussion has been locked.
No new contributions can be made. You may start a new discussion
here
