jasdlm Posted April 5, 2012 Report Posted April 5, 2012 Client and spouse won the lottery. Each receives a payout every year with withholding. Spouse died, and now lotto winnings pay into a trust (client as beneficiary). I do the trust return and obviously my client's return. Someone said in an earlier post that there is a way to k1 withholding through to a beneficiary. Is this true? Lotto has mandatory withholding. I have been having my client pay in and then get a refund from the Trust return. It would be great if I could pass the withholding via K1. I researched this 3 years ago and for some reason came to the conclusion that I could not pass the withholding on through the k1. Thanks for any input! Quote
fredazcpa Posted April 5, 2012 Report Posted April 5, 2012 only works with estimated taxes paid, not withholdings, Quote
Kea Posted April 5, 2012 Report Posted April 5, 2012 I was the one who suggested the withholding could go throught K-1. I had thought anything could pass through. My apologies for my wrong answer. Quote
fredazcpa Posted April 5, 2012 Report Posted April 5, 2012 So di I until this year, had it for the first time, a trust rec'd a 1099R with wiitholdings and I was looking all over, found read the instructions and they say no withholdings only estimated payments, so trust got a refund Quote
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