@EXODUSwrote:......I should switch to an S Corp and pay my self a salary so I don’t pay self employment tax....But you'll have to then pay FICA (seehttps://www....
There is no guidance for going the route you delineated.
If you want to make a distribution and issue K-1s there is guidance if beneficiaries will not provide ...
@Stevesleftwrote:What am I missing about the rental property and the reasons why it is still being considered passive by TurboTax?I think you missed the questio...
@Jdconnwrote:Can I file the final 1041 without including Schedule K-1s? All the beneficiaries would be OK with that.Yes, but not the optimum. I'd try to have ea...
Depends on the terms of the trust but more likely than not either your mom or the trust will pay any tax due.For grantor trusts, generally, the income/gain is t...
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