Hi,
There is a trust that is the owner of a K-1 and the taxpayer also has a K-1 for the same entity as an individual.
Should the K-1 where the trust is listed as an owner be allocated for on a separate trust return versus on the taxpayer's return?
It might an inter-vivos trust, does that type of trust have to file a separate trust return? There are also multiple states that have documents related only to the portion where the trust is listed as the owner not the individual.
Thanks.
yes and it is a 1065 K-1 for a partnership
You have clicked a link to a site outside of the ProConnect Community. By clicking "Continue", you will leave the Community and be taken to that site instead.