PLLO CERTIFIED PUBLIC ACCOUNTANTS 5 COMMON MISTAKES YOUR TAX RETURN MAY REVEAL PART IV As we prepare to file your taxes, we often identify common planning mistakes and missed opportunities. Over the next few weeks we will discuss two additional red flags that may present problems (see prior issues for Part I & III). Beneficiaries of trusts will receive a K-1 form to report their share of income and losses. If you are the beneficiary of a trust, find out who is in control of these assets and determine what authority, if any, you have to make changes. We encourage the beneficiary of any trusts to be proactive by asking questions and learning more about what they have control over, especially since it will ultimately impact their financial situation. Contact us for more information, Morgantown, WV 304.554.3371 Charleston, WW 304.343.4126 1 Parkersburg, WW 304.485.6584 www.suttlecpas.com