Trust Return Late Filing, Amending 1040 - Spidell

Trust Return Late Filing, Amending 1040

Log in to Post

Message Board Trust Return Late Filing, Amending 1040

This topic contains 2 replies, has 2 voices, and was last updated by Samy Basta 2 months, 1 week ago.

  • Author
  • #158468
    Samy Basta


    A client who is a trustee / beneficiary of a revocable trust didn’t file trust returns since the death of the grantor in 2012.   The trust was funded with one rental property.  So, I need to go back and file 1041 beginning of 2012. As a result, the client needs to amend his 1040 for all those years to report the K-1.

    Is there a way to report the K-1 income without amending the trustee’s personal returns? My biggest concern is a potential audit for understatement of income when 6 years are amended all at one time.


    Samy b.

  • #158548
    William Dewberry

    If you choose so, file the 1041 as a complex trust.

  • #160452
    Samy Basta

    Got it, thank you!  sb.