Agree - include in your 2017 return. As the recipient of the K-1, you would include the K-1 income in the year that the fiscal year of the partnership ends. Thus, 11/30/17 falls within your 12/31/17 taxable year. The K-1 is on a 2016 form because the partnership uses the form for the year in which the fiscal year of the partnership begins. Guessing this is a 12/1/16-11/30/17 year on the K-1.
Big thanks, Twinsplus1 and law_five!! I couldn't see how it could go back to 2016, but no self-confidence.
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Just in case somebody knows: We received a Form K-1 from a trust for $ my husband's uncle left. The form says "2016" in the big print at the top, but it also says "for tax year ending 11/30/17". Surely this is to be reported on our 2017 calendar-year return, not back to 2016?
Thanks for any info! I think I'll report this on a "majority rules" basis....