TaxmannEA Posted March 24, 2020 Report Posted March 24, 2020 I do a few 1041s but this is a new situation to me. A TP with no family died and left everything to 2 churches and a local fire protection district. There are no other beneficiaries. He had a revocable trust which became irrevocable on his death. The trust has received his pension payouts as well as farm rental income from another state and farm income (unsold crops) from this state. They sold farms in both states. My question is do I prepare any K-1s for this or does the entire thing go out as a charitable deduction on the 1041 ? This may be kind of basic, but at this point I'm arguing with myself. (brain fried) Quote
DANRVAN Posted March 24, 2020 Report Posted March 24, 2020 4 hours ago, TaxmannEA said: does the entire thing go out as a charitable deduction on the 1041 ? That sounds right to me. It can be either paid out, or permanently set aside for future distribution. Quote
TaxmannEA Posted March 24, 2020 Author Report Posted March 24, 2020 Thanks ! It just seems weird to file a 1041 with no K-1. Quote
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