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How many K-1 with 1041?

Consul1
Level 2

Do all eventual beneficiaries, including all contingent beneficiaries, get a K-1 annually or does the trust only prepare a K-1 for those beneficiaries who receive a current distribution?

If only current beneficiaries get a K-1, is it safe to assume that the K-1's issued may change from year to year?

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sjrcpa
Level 15

I wouldn't 


Ex-AllStar

View solution in original post

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4 Comments 4
sjrcpa
Level 15

Only those that get current distributions need to get K-1s. It's your choice as to whether you issue zero K-1s to the others.


Ex-AllStar
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Consul1
Level 2

Thanks.  How about with the 1041 filing itself?  Should a K1 be prepared and attached for all eventual beneficiaries including those with no current reportable income?

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sjrcpa
Level 15

I wouldn't 


Ex-AllStar
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Consul1
Level 2

Thanks