What is the name of your state? New York
If a beneficiary receives income from an irrevocable trust, and knows that some of the interest and dividends reported to them on the K-1 (Form 1041) is from US Treasury securities and is exempt from income tax in their state, how do they know how much of the interest or dividends is exempt? The K-1 form doesn't seem to show this.
If a beneficiary receives income from an irrevocable trust, and knows that some of the interest and dividends reported to them on the K-1 (Form 1041) is from US Treasury securities and is exempt from income tax in their state, how do they know how much of the interest or dividends is exempt? The K-1 form doesn't seem to show this.
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