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 and Schedule D. 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, anddepreciation is charged to principal. For the current year, the irrevocable trust reports the following: Income Principal Rental income 15,000 Corporate Bond Interest 30,000 Interest on tax-exempt bonds 5,000 Long-term capital gain on sale of land (bought 2006 sold Mov current year) 30,000 (sales price 5110k, basis 580k.) Maintenance & repairs of rental property 1,500 Property taxes on rental property 600 CPA's fee for tax return preparation 500 Trustee's fee 2,000 Depreciation on rental property 2,200 Estimated federal income taxes paid from principal 5,000 toinclude under "payments" on Form 1041--it is not part of calculations Prepare last year's Form 1041 including any needed Schedule K-1's for the Jessica June Trust. Ignorealternative minimum tax