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State Taxation of Trust K-1

Level 1

I have a trust formed in Georgia managed in Michigan.  One Michigan beneficiary.  Two Georgia beneficiaries

Only income is interest income from a life insurance company and was fully distributed.

Does the trust file a Michigan or Georgia 1041?

Do the beneficiaries file in Georgia and Michigan?

Thanks ~ 



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1 Reply 1
Level 15

Read the trust document to determine situs. Read the GA and MI fiduciary return instructions on who must file. Income from intangibles is general taxed to the beneficiaries in their state of residence only.

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