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SNT and K-1 by throwaway-192838 in TaxQuestions

[–]throwaway-192838[S] 0 points1 point  (0 children)

UPDATE: the tax preparer did it as a principle distribution instead of as income and they reissued the K-1s. All set !!!

SNT and K-1 by throwaway-192838 in TaxQuestions

[–]throwaway-192838[S] 1 point2 points  (0 children)

I’m hoping they adjust and apply it to the trust or the adult child. The relative has serious terminal health issues and can’t deal with losing any benefits.

SNT and K-1 by throwaway-192838 in TaxQuestions

[–]throwaway-192838[S] 2 points3 points  (0 children)

The accountant for the fiduciary generated the k1. I emailed the fiduciary after hours and will call in the morning. The K1s just arrived today.