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#1
05-05-2004, 07:16 PM
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 Re: Taxes on a Residual Trust (1041) Avrum Lapin <avrum113NOSPAM[at]earthlink.net> wrote: - quote - > If the residual (decedents) trust of a family trust holds
<b> To start with, on Schedule B Line 2, page 2 of 1041</b> tax free Municipal bonds does it have to report that > interest on the 1041? If so where? - quote - > If the residual trust is required to distribute its income
Line 14b</b> to the surviving spouse, is the tax free income reported on > the K-I? If so where? <b - quote - > Presumably the survivor reports that distributed tax free
<b> Form 1041 Instructions</b> income on line 8B of the survivors 1040 regardless of > whether that income is reported on the K-1. > Is there an equivalent to Pub 17 for 1041 filers? - quote - > This question presumes that tax free municipal bonds are a
All of your questions are answered in form 1041 instructions.> good investment for the surviving trust Form 1041 directly address all of these issues. ed << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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05-04-2004, 04:20 AM
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| Re: Taxes on a Residual Trust (1041) Avrum Lapin wrote: - quote - > If the residual (decedents) trust of a family trust holds
Yes.> tax free Municipal bonds does it have to report that > interest on the 1041? - quote - > If so where?
Page 1, Other Information, item 1.- quote - > If the residual trust is required to distribute its income
Yes.> to the surviving spouse, is the tax free income reported on > the K-I? - quote - > If so where?
Line 14b, Tax Exempt Interest. You should provide the beneenough information about the income to determine whether it's state taxable. - quote - > Is there an equivalent to Pub 17 for 1041 filers?
A 1041 with muni interest isn't really a do-it-yourself project.Phoebe  << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
05-03-2004, 07:59 AM
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| Taxes on a Residual Trust (1041) If the residual (decedents) trust of a family trust holds tax free Municipal bonds does it have to report that interest on the 1041? If so where? If the residual trust is required to distribute its income to the surviving spouse, is the tax free income reported on the K-I? If so where? Presumably the survivor reports that distributed tax free income on line 8B of the survivors 1040 regardless of whether that income is reported on the K-1. Is there an equivalent to Pub 17 for 1041 filers? This question presumes that tax free municipal bonds are a good investment for the surviving trust -- Avrum Lapin avrum113[at]earthlink.net Upland CA Remove NOSPAM from address << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| 1041, residual, taxes, trust |
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