Sign up to save your podcasts
Or
Share Episode 1: Trust Tax Returns & K1F - When/What does a client need to file when they inherit something?
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
Episode 1: Trust Tax Returns & K1F - When/What does a client need to file when they inherit something?
FAQ: I've inherited something, do I need to file a trust tax return?
Main Objective: Equip you with the knowledge to guide clients on whether they need to file a trust tax return and understand K1F forms.
Description: In this episode, Kristy Pack dives into the essentials of guiding clients who’ve inherited assets and are wondering if they need to file a trust tax return (Form 1041). She shares practical tips on spotting when a trust is involved, key questions to ask clients to determine if a trust tax return is necessary, and how to explain K1F forms in a way that clicks. Kristy clarifies why most inherited assets (except pre-tax IRAs or 401(k)s) are tax-free and why passing income to beneficiaries can sidestep higher trust tax rates. Plus, she suggests creating a decision tool to help your team guide clients confidently. Tune in to learn how to answer your clients’ trust tax questions like a pro!
View all episodes
By Kristy PackFAQ: I've inherited something, do I need to file a trust tax return?
Main Objective: Equip you with the knowledge to guide clients on whether they need to file a trust tax return and understand K1F forms.
Description: In this episode, Kristy Pack dives into the essentials of guiding clients who’ve inherited assets and are wondering if they need to file a trust tax return (Form 1041). She shares practical tips on spotting when a trust is involved, key questions to ask clients to determine if a trust tax return is necessary, and how to explain K1F forms in a way that clicks. Kristy clarifies why most inherited assets (except pre-tax IRAs or 401(k)s) are tax-free and why passing income to beneficiaries can sidestep higher trust tax rates. Plus, she suggests creating a decision tool to help your team guide clients confidently. Tune in to learn how to answer your clients’ trust tax questions like a pro!