JJStephens Posted February 18, 2016 Report Share Posted February 18, 2016 Client has been bugging me for a couple days to send the K-1s for the trust from his mother's estate. He had emailed a document that according to him had' everything I needed.' That return finally made it to the top of my to-do stack. Turns out all he provided in the email attachment was the amount of each beneficiary's distribution. I told him I need the trust's income & expense info to prep the 1041. He told they don't care about the 1041 right now, I can do that later. All they want right now are the K-1s. Deep sigh. How quickly can April 18 get here?!?!? 8 Quote Link to comment Share on other sites More sharing options...
RitaB Posted February 18, 2016 Report Share Posted February 18, 2016 Crying. Oh, my aching back. 1 Quote Link to comment Share on other sites More sharing options...
Janitor Bob Posted February 18, 2016 Report Share Posted February 18, 2016 Oh my Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted February 18, 2016 Report Share Posted February 18, 2016 2 hours ago, JJStephens said: Client has been bugging me for a couple days to send the K-1s for the trust from his mother's estate. He had emailed a document that according to him had' everything I needed.' That return finally made it to the top of my to-do stack. Turns out all he provided in the email attachment was the amount of each beneficiary's distribution. I told him I need the trust's income & expense info to prep the 1041. He told they don't care about the 1041 right now, I can do that later. All they want right now are the K-1s. Deep sigh. How quickly can April 18 get here?!?!? Teach me how to do that??? 1 Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted February 20, 2016 Report Share Posted February 20, 2016 I hope that was over the phone, so you were able to resist the need to hit him? 3 Quote Link to comment Share on other sites More sharing options...
Crank Posted February 21, 2016 Report Share Posted February 21, 2016 Too funny! Or maybe it's not a laughing matter. Quote Link to comment Share on other sites More sharing options...
Richcpaman Posted February 21, 2016 Report Share Posted February 21, 2016 So.... The taxable portions of the estate may be Zero. Gotta have income from something. Interest, Dividends, maybe some capital gains on the sale of some investments. Notwithstnding the deductions to take against that income. But... We sent out $50k to each of the beneficiaries, and that is what we need to report on the K-1's. Cool. That Trustee must work for the IRS. Quote Link to comment Share on other sites More sharing options...
JJStephens Posted February 24, 2016 Author Report Share Posted February 24, 2016 On 2/20/2016 at 1:20 PM, kcjenkins said: I hope that was over the phone, so you were able to resist the need to hit him? Actually, it was via e-mail. And it happens that it is from one of my oldest and dearest friends. Still, the temptation was there 1 Quote Link to comment Share on other sites More sharing options...
TAXMAN Posted February 25, 2016 Report Share Posted February 25, 2016 Not as bad as client refinancing home(now) and says just put some # on a K-1. Fix it later. Goodbye client. 3 Quote Link to comment Share on other sites More sharing options...
JJStephens Posted February 25, 2016 Author Report Share Posted February 25, 2016 17 hours ago, TAXMAN said: Not as bad as client refinancing home(now) and says just put some # on a K-1. Fix it later. Goodbye client. Just once when a client says 'just put down something for now & we'll fix it later' I want to say, 'Okay, for now I'll put down a million dollars and we'll fix it later.' I have a feeling there would be no need to fire that client. 2 Quote Link to comment Share on other sites More sharing options...
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