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For AB Trust Income from rental property please tell me all
For AB Trust Income from rental property please tell me all of the federal income tax forms I need to fill out starting with form 1040.… read more
Lev
Lev
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I received a schedule K-1 for 2017 so I need to amend my
I received a schedule K-1 for 2017 so I need to amend my taxes. The total amount I will receive is $60,670. So far I have only received a $20,000 disbursement. My total income in 2017 year was $13,717… read more
Tax.appeal.168
Tax.appeal.168
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I am receiving $$$ for managing a trust. I received a modest
I am receiving $$$ for managing a trust. I received a modest amount this year which I assumed was going to be taxable to me. It was issued on a K1 box 12 A as an AMT. I have been back in school this y… read more
Lev
Lev
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I am the sole surviving family member, sole beneficiary and
I am the sole surviving family member, sole beneficiary and the trustee/fiduciary of a trust. I am having issues using H & R Block business edition I can't seem to resolve.The trust has some interest … read more
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I want to know if items A,, and J on irs form 1041 schedule
i want to know if items A,B, and J on irs form 1041 schedule k-1 need to be on my 1040 form and where on the 1040 they are reported… read more
Lev
Lev
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My mother set up a irrevocable trust last year. This is the
My mother set up a irrevocable trust last year. This is the first year to file it. From previous years on her regular 1040 she has ($76,000) in capital loss carry overs on her schedule D. Can those lo… read more
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I have a? regarding filing a 1041 for a trust. Can you help?
I have a ? regarding filing a 1041 for a trust. Can you help? … read more
Chad EA, CDFA®, CFP®
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I have a K-1 1041, and a k-1 Ca541, the line 11a on the K-1,
I have a K-1 1041, and a k-1 Ca541, the line 11a on the K-1, 1041 says STMT and the Ca541 has an amount. Confused where to put these on my returns. … read more
taxmanrog
taxmanrog
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I have a question for a CPA. Will a CPA respond? I am the
I am the beneficiary of an estate. The family member leaving the estate died in 2010. The assets were held in Trust. The estate was litigated and sat for a long time. It was distributed in 2015; however, I just received the tax returns in 2016. The tax documents received in 2016 for the 2015 disbursement includes a 1040, K1, and a copy of the account 1099 from the brokerage account with liquid assets. No 1099 was provided to the beneficiary from the brokerage account. Just one overall for the Trust. The 1040 shows some investment income. The 1040 also shows home sale values for 2010 and then again for 2015. The home sale shows a loss. I showed my accountant the check received for the disbursement and the 1040 and K1. The full value of the disbursement isn't shown anywhere. I just have a copy of the check and the tax documents discussed. The person in charge of the Trust was uneducated and made mistakes. A professional prepared the taxes and they appear to be in order. I did not pay any personal taxes when I filled in 2015 as I was advised it was not owed. Does all of this sound correct? No income tax owed? The K1 shows a loss. I'm wondering if there could be any unexpected issues with the IRS? As an additional note, this was a NY trust settled in FL. … read more
PDtax
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My mother's estate is approximately 2 million. Most of the
My mother's estate is approximately 2 million. Most of the assets were distributed via beneficiary designations on retirement accounts. One brokerage account held by the family trust was distributed t… read more
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Does the tip credit received from a partnership by a simple
Does the tip credit received from a partnership by a simple trust pass through to the beneficiary of the trust? All income from the partnership is passed thru, but the 1041 K1 does not list the tip cr… read more
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Lev
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Relating to my first paid question... when the trust files
Relating to my first paid question... when the trust files its return 1041 and shows income of $44641.81, would the same deductions apply that were filed with the state of indiana on their estate deat… read more
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Lev
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My parents created a revocable grantor trust in 1993. My father
My parents created a revocable grantor trust in 1993. My father passed in 1993 and my mother passed in May 2011. There was one annuity held in the trust and the beneficiary was also the family trust. … read more
Jax Tax
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Mother in law died November 9, 2010 with a revocable trust.
Mother in law died November 9, 2010 with a revocable trust. Husband is executor. No distributions have been made except transfer of house to husband, new deed has been drawn and we will continue to us… read more
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I have hired a person to be a driver for me. I had an accident
I have hired a person to be a driver for me. I had an accident in 2009 which is why I hired a driver. The driver was only hired for my job. I have a delivery job. The driver used his car for most of t… read more
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I entered a number on Sched A, line 23 (from a final K1, excess
I entered a number on Sched A, line 23 (from a final K1, excess deductions) when I printed it out the figure was doubled. I used turbo tax. the amount came from K1 1041, line 11.also On a federal stat… read more
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Hello I have been the beneficiary of a simple testimony ...
Hello I have been the beneficiary of a simple testimony trust for the past 2 years. Recently the fiduciary and I noticed an error on the last two 1041 forms the trust filed. On both the 06' and 07' tr… read more
Lev
Lev
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Bachelor's Degree Equivalent
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My husband is a beneficiary of his fathers estate; he ...
My husband is a beneficiary of his father''s estate; he died last year. He is entitled to 1/6 of the trust. Should he have received a schedule K-1 for money distributed out of the trust? and the sale … read more
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