Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

On Estate and Trust K-1 Detail Page it says "Fiduciary Addition" for state tax return

bill6
Level 3

What does that mean?

I am trying to figure in which direction it should go on the state income tax return. Is it an addition to income as the second half of the name would suggest? Or a fee as the first half suggests?

Labels (1)
0 Cheers
1 Solution

Accepted Solutions
BobKamman
Level 15

Added back to income for the state -- either income not taxed on the federal (like tax-free bonds from the wrong state) or a deduction not allowed by the state (like state taxes).  

View solution in original post

2 Replies 2
IRonMaN
Level 15

Sounds like you have something to add back on the beneficiaries' state income tax return.

ACME Taxes, Tattoos, Tires and Tasmanian Devils - one free devil with every return.
BobKamman
Level 15

Added back to income for the state -- either income not taxed on the federal (like tax-free bonds from the wrong state) or a deduction not allowed by the state (like state taxes).  

View solution in original post