For this tax return, make sure COMPLETE form 1041(with all the schedules as applicable--especially schedule B) and

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For this tax return, make sure COMPLETE form 1041(with all the schedules as applicable--especially schedule B) and Schedule K-1.
There is more than one version of Schedule K-1. Get the one that says Schedule K-1 (Form 1041) as part of its heading.
Make up the addresses and identification numbers as needed for headings.
Marsha Moss created the Jessica June Trust in 2015 with First Bank named as trustee.
For 20 years, the trust is to pay out all its income semiannually to the beneficiary, Jessica June. At the end of the twentieth year, the trust assets are to be distributed to Jessica's descendants. According to the trust instrument, capital gains are credited to the principal, and depreciation is charged to the principal. For the current year, the irrevocable trust reports the following:
Income Principal
Rental income 15,000
Corporate Bond Interest 27,000
Interest on tax-exempt bonds 8,000
Long-term capital gain on sale of land (bought 2006 sold Nov 2021) 30,000 (sales price $110k, basis $80k.)
Maintenance & repairs of rental property 1,500
Property taxes on rental property 700
CPA's fee for tax return preparation is 500
Trustee's fee 2,000
Depreciation 2,200
Estimated federal income taxes paid from principal 5,000

Prepare 2021 Form 1041 including any needed Schedule K-1's for the Jessica June Trust. Ignore alternative minimum tax.