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Answers to your estate planning questions so you can take care of your family and yourself. Answers to your estate planning questions so you can take care of your family and yourself. Answers to your estate planning questions so you can take care of your family and yourself.
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Archives

Tag Archives for: "k-1 tax form"
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 Will Appointment of Trustee Cause Taxation of Trust in Their State?
0
By Harry Margolis
In Revocable Trusts
Posted February 16, 2024

Will Appointment of Trustee Cause Taxation of Trust in Their State?

Question: The online trust services I have contacted (LegalZoom, Trust & Will) include standard recitations that the overseas grantor lives in a US state with no option not to select one. I [...]

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 How Do I Report My Trust Income?
1
By Harry Margolis
In Irrevocable Trusts
Posted October 31, 2023

How Do I Report My Trust Income?

Question: How is my fiduciary income from an irrevocable trust taxed. I received $8,880. What IRS forms do I file? Response: I am assuming you are asking as a trust beneficiary. If so, your trust [...]

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 Must Small Irrevocable Trust File Tax Return and Issue K-1s?
6
By Harry Margolis
In Irrevocable Trusts, Trustee
Posted March 14, 2022

Must Small Irrevocable Trust File Tax Return and Issue K-1s?

Question: Dad died in 2021 in Florida. He was the grantor of a revocable trust and I (daughter) was the trustee. My understanding is that upon his death, it became an irrevocable trust. When he [...]

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0
By Harry Margolis
In Irrevocable Trusts, Revocable Trusts
Posted June 14, 2021

How Will Parents’ Trust be Taxed Upon Liquidation and Distribution?

Question: I am the trustee of my parents’ trust. They have now both passed away. I want to liquidate and distribute the proceeds to the beneficiaries. Does the trust have to pay taxes upon [...]

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Wondering if a trust makes sense for you?

This comprehensive guide provides all you need to know (in plain English).

Harry Margolis book: The Baby Boomers Guide to Estate Planning

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(An Amazon Prime Reading selection)

Read Sample Chapters

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