Trust and K-1

Posted in Creative Real Estate Discussions
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  • John Kane
    April 5, 2017 at 3:14 pm
    John Kane

    Hey Everyone,
    I have a land trust with 3 beneficiaries, each have there own CPA’s. The CPA’s are asking for a K-1. The trust does not have a EIN.
    Has anyone dealt with this before?
    In the past I have always claimed all income and expenses on schedule E personal returns, even with multiple beneficiaries.
    Thanks.

    John

    Jackie Lange
    April 9, 2017 at 9:13 am
    Jackie Lange

    HI John

    I have never run in to this. Just tell the CPA that the trust is a title holding trust only.

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