If a conduit trust is correctly set up as the beneficiary of an IRA, can you explain the tax filings needed. The one I see, the 1099r, is set up so the payee is the trust and the trusts tax ID number. So that it gets correctly taxed at the personal tax level and not the trust tax rates, Would you show the income under line 8 of the 1041, explain it, deduct it on line 18 of the 1041, attach a K1 with the distribution shown on line 5 (other portfolio and non-business income) along with the personal tax ID number + an explanation. Can you confirm this is correct and if not explain what tax forms are generally used for this transaction?