I have a NY trust with real estate income in several states. One of them is Connecticut. The real estate income is the only income sourced in Ct.
Form CT-1041 Part 1, Schedule A- Ct Fiduciary Adjustments Additions has an addback on line 1 for interest on state and local government obligations other than Connecticut. This addback will be a substantial number for this trust.
It doesn't make sense or seem right. If this trust had no Ct source income, they would not be subject to this addback, because they would not be filing a return.
Has anybody dealt with this before?
Thank you.
Elizabeth Brown, CPA
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Elizabeth Brown
CPA
ELIZABETH BROWN, CPA
Ossing NY
914-345-1040
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