No, it would not be necessary to send a K-1 with zeroes in all of the boxes or just blank. You could and should inform your beneficiaries that their distributio...
The basis of property inherited from a decedent is generally one of the following.The FMV of the property at the date of the individual's death.The FMV on the a...
Normally the distribution carries through DNI if made in the same year as the income is earned. Nevertheless, if the trust has paid any tax due a K-1 is not nec...
Yeah, I believe the Service is fine with the deduction provided the taxpayer has the benefits and burdens of ownership. In legal terms, that's the functional eq...
There is no rule allowing a beneficial owner to deduct the taxes. Tax court cases have permitted the deduction when taxpayers have proved they are equitable ow...
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