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Does Schedule K-1-T need to be submitted to the Department?

Answer #616 -- ( Published 10/27/2006 01:39 PM | Updated 02/20/2018 2:51 PM )

Does Schedule K-1-T need to be submitted to the Department?

If you receive a Schedule K-1-T, Beneficiary’s Share of Income and Deductions, from a trust or estate, then you must attach a copy of the Schedule K-1-T you received to your Illinois income tax return to report and claim any amounts you received. Please keep a copy of the Schedule K-1-T you received for your files.

If you are the trust or estate that completes Schedule K-1-T you should send the appropriate Schedule K-1-T to each beneficiary along with a copy of Schedule K-1-T(2), Beneficiary’s Instructions. You should maintain copies of these issued Schedule(s) K-1-T in your files. When you submit your fiduciary return to the department, do not include copies of any Schedule(s) K-1-T you issued to your beneficiaries. The beneficiaries will report this information when they file their Illinois income tax returns.

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