For this tax return, make sure COMPLETE the form 1041(with all the schedules as applicable--especially schedule B) and Schedule K-1. There are more than one version of Schedule K-1. Get the one that says Schedule K-1 (Form 1041) as part of its heading. Make up the addresses and identifcation numbers as needed for headings. Marsha Moss created the Jessica June Trust in 2015 with First Bank named as trustee. For 20 years, the trust is to pay out all its income semiannually to the beneficiary, Jessica June. At the end of the twentieth year, the trust assets are to be distributed to Jessica's descendants. According to the trust instrument, capital gains are credited to principal, and depreciation is charged to principal. For the current year, the irrevocable trust reports the following: Income Principal Rental income 15,000 Corporate Bond Interest 27,000 Interest on tax-exampt bonds 8,000 Long-term capital gain on sale of land (bought 2006 sold Nov 2021) 30,000 (sales price $110k, basis $80k.) Maintenance & repairs of rental property 1,500 Property taxes on rental property 700 CPA's fee for tax return preparation 500 Trustee's fee 2,000 Depreciation 2,200 Estimated federal income taxes paid from principal 5,000

Prepare 2021 Form 1041 including any needed Schedule K-1's for the Jessica June Trust. Ignore alternative minimum tax.