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Can someone review this and tell me if I did it correctly please? TAX RETURN SCENARIO Schedule K - 1 ( Form 1 0 4
Can someone review this and tell me if I did it correctly please?
TAX RETURN SCENARIO Schedule K
Form
Department of the Treasury
Internal Revenue Service
For calendar year or tax year
The year's activities of the trust include the following:
The trust and Penny both use the calendar tax year. Under the terms of the trust instrument,
fiduciary's fees are allocated to income. The trustee must distribute all of the entity's accounting
income to Penny Newman by March of the following year. The trustee followed this charge
and made no other distributions during the year. Fiduciary's fees properly were assigned as an
offset to taxable interest income.
The trust was created on November There are no tax credits for the year, and none of the
entity's income was derived from a personal services contract. The trust has no economic interest
in any foreign trust. Its Federal identification number is
The trustee, Ridgemont Federal Bank, is located at Sky View Road, Naples, FL Its
employer identification number is Penny lives at Aqua Road, Bonita Springs,
FL Her Social Security number is
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