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- CHANGING AND/OR ADDING BENEFICIARIES TO A TRUST FORM 1041
CHANGING AND/OR ADDING BENEFICIARIES TO A TRUST FORM 1041
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ROCKYMAJIC
Level 1
06-08-2023
12:27 PM
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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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Just-Lisa-Now-
Level 15
06-08-2023
01:23 PM
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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.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
