Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 04-09-2009, 09:15 AM
Junior Member
 
Join Date: Apr 2009
Posts: 1
Interest and Dividends on 1041

My mother has set up an irrevocable trust for her sons. She can receive the income (trust invests in stocks), although she elects to reinvest income in the trust. She is the trustee.

Does this count as a complex trust?

Since she can receive the int/div, is she also a beneficiary?

Do we list the int/div on form 1041 on lines 1 and 2, then list them also as a deduction in schedule B - file K-1 - then list them on her personal 1040 and pay taxes on them there?



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Schedule K-1 (Form 1041) BTOG Income 1 03-25-2009 02:09 PM
2008 Capital Gains & Qualified Dividends Tax Rate SurferDude Capital Gains 0 09-13-2008 01:16 PM
How are Dividends taxed in 2008? mabalone Income 1 07-21-2008 12:18 PM
At what rate are dividends taxed? Ralph Harris Capital Gains 1 04-10-2008 12:53 AM
What are Constructive Dividends? TaxGuru C-Corporation 1 12-12-2007 09:58 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.