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I wanted to find out if K-1's are required of Corpus,

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Submitted: 1 year ago.Category: Tax
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2/25/2016
Tax Professional: Stephen G., Sr Income Tax Expert replied 1 year ago
Stephen G.
Stephen G., Sr Income Tax Expert
Category: Tax
Satisfied Customers: 7,211
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Generally no, unless there is income which would be passed through via distributions before corpus is distributed.

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Tax Professional: Stephen G., Sr Income Tax Expert replied 1 year ago

Please note:

General Instructions
If the estate or trust was required to distribute income currently or if it paid, credited, or was required to distribute any other amounts to beneficiaries during the tax year, complete Schedule B to determine the estate's or trust's income distribution deduction.

In other words, distributions are allocated to income first, then corpus.

Please remember to rate my response as that is the only way I receive credit for my work.

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Tax Professional: Stephen G., Sr Income Tax Expert replied 1 year ago

Just checking in.

Do you have any additional follow-up questions?

If not, please remember to rate my response as that is the only way we receive credit for our work.

Thanks very much,

Steve G.

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