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This list identifies the codes used on Schedule K-1 for beneficiaries and provides summarized reporting information for beneficiaries who file Form 1040 or 1040-SR. For detailed reporting and filing information, see the Instructions for Schedule
Use Schedule K-1 to report a beneficiary's share of the estate’s or trust’s income, credits, deductions, etc., on your Form 1040 or 1040-SR. Keep it for your records. Don’t file it with your tax return, unless backup withholding was reported in box 13, code B.
Instructions for Schedule K-1 (Form 1041) for a Beneficiary Filing Form 1040 or 1040-SR. Note. The fiduciary’s instructions for completing Schedule K-1 are in the Instructions for Form 1041. Section references are to the Internal Revenue Code unless otherwise noted.
General instructions. Use these instructions to help you report on your personal income tax return the items shown on all your Form(s) IT-204-IP, New York Partner’s Schedule K-1, as reported by the partnership(s). You as a partner are liable for tax on your share of the partnership income, whether or not distributed.
Instructions for Schedule A (Form 1040), Itemized Deductions, to figure its deduction. • State and local real property taxes. Note. The deduction for foreign real property taxes is no longer allowed. • State and local personal property taxes. • Foreign or U.S. possession income taxes. You may want to take a credit for the tax instead of a ...
After filing Form 1041, the fiduciary will provide a beneficiary a Schedule K-1 1041 that reflects the beneficiary’s share of income, deductions, credits, and other items that the beneficiary will need to report on their individual tax return.
General instructions. If you are a partner in a partnership and must file Form CT-3, CT-3-S, or be included in a combined group filing Form CT-3-A, under Article 9-A (a corporate partner; see Who must file under Article 9-A below), the partnership should send you a completed Form IT-204-CP, New York Corporate Partner’s Schedule K-1.
