Beneficiary K-1's (1041 MS)
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Hide expandable textResident beneficiaries
Resident beneficiaries are taxed on all types of both Mississippi and Non-Mississippi income listed on the K-1, as well as out of state municipal amounts.
For non-resident trusts, Onvio Tax treats resident beneficiaries as non-resident beneficiaries on the K-1.
Non-resident beneficiaries
The state taxes non-resident beneficiaries only on Mississippi source income listed on the K-1. The state does not require Interest & Dividends on non-resident beneficiary K-1s and those amounts will appear on Schedule K column D instead.
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