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- Hus/wife have trust that owns 2 LLCs w rental income & 2 LLCs that own securities w dividend income. Do H&W need to file a 1041 or as K-1 income on Form 1040?
Hus/wife have trust that owns 2 LLCs w rental income & 2 LLCs that own securities w dividend income. Do H&W need to file a 1041 or as K-1 income on Form 1040?
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jjm-cffsllc-com
Level 1
a month ago
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Does a 1041 have to be filed with the LLC income or can the taxpayers include the LLC income via K-1s?
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1 Comment 1
IRonMaN
Level 15
a month ago
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A two member LLC generally means a partnership return needs to be filed. As far as trust reporting goes, an irrevocable trust requires to be reported on a 1041 but a revocable trust is treated as if the taxpayers still own things personally.
Slava Ukraini!
