Trusts & Estates

Schedule K-1 (1041): Beneficiary's Share of Income, Deductions, Credits, etc.

Reports each beneficiary's share of the estate or trust's income, deductions, and credits that pass through to the beneficiary's personal tax return.

Download Schedule K-1 (1041) PDFAbout on IRS.gov

Who Files This Form?

Estates and trusts that distribute income to beneficiaries issue K-1s as part of Form 1041.

Key Fields

  • Interest income
  • Ordinary dividends
  • Net short-term capital gain
  • Net long-term capital gain
  • Other portfolio income
  • Directly apportioned deductions

Filing Deadlines

Due Date

April 15 (calendar year) or 15th day of 4th month after fiscal year end

Late Filing Penalty

Filed as part of Form 1041; late filing penalty applies to the entire 1041 return.

Related Forms

Form 1041

U.S. Income Tax Return for Estates and Trusts

Form 1040

U.S. Individual Income Tax Return

Schedule E

Supplemental Income and Loss

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