Amber F. asked
I have a revocable trust set up for my minor child. The trust was set up to hold the beneficiary proceeds from the sale of my aunt's home. The estate CPA sent the trust a North Carolina K-1 for $5570, which represents the portion of the capital gains from the difference in value of the home when my aunt died and when it was sold 6 months later. The K-1 has the TIN of the trust. Do I need to file a return for the trust, a return for my minor child, or include it in my income?
February 4th, 2023
Stephanie A. answered
The filing requirements depend on whether the trust is revocable or irrevocable. 1. If the trust is ...
February 4th, 2023
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