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.