What is the tax liability from an inheritance from a trust and reported on a K-1 form?
You don't need to submit a K-1 form to anyone, but you will need to transcribe various entries on the K-1 form that you will receive onto the appropriate lines on your tax return.  Broadly speaking, assets received as a bequest from someone are not taxable income to you but any money that was received by your grandmother's estate between the time of death and the time of distribution of the assets (e.g. interest, mutual fund distributions paid in cash, etc) might be passed on to you in full instead of the estate paying income tax on this income and sending you only the remainder. If so, this other money would be taxable income to you.  The good news is that if the estate trust distributions include stock, your basis for the stock is the value as of the date of death (nitpickers: I am aware that the estate is allowed to pick a different date for the valuation but I am trying to keep it simple here).  That is, if the stock has appreciated, your grandmother never paid capital gains on those unrealized capital gains, and you don't have to pay tax on those capital gains either; your basis is the appreciated value and if and when you sell the stock, you pay tax only on the gain, if any, between the day that Grandma passed away and the day you sell the stock.
10-Q is the quarterly report, and accordingly is filed quarterly. Similarly, 10-K is the annual report. 8-K is a general form for notification of material events. It is filed every time a material event is required to be reported to the shareholders. It may accompany the periodical reports, but doesn't have to. It can be filed on its own. If you're only interested in the financial statements, then you should be looking for the 10K/10Q forms. SEC will tell you when the forms were filed (dates), but it won't tell you what's more material and what's less. So you can plot a stock price graph on these dates, and see what was deemed more material by the investors based on the price fluctuations, but be prepared to find fluctuations that have no correlation to filings - because the market as a whole can drag the stock up or down. Also, some events may not be required to be reported to SEC, but may be deemed material by the investors. For example, a Cupertino town hall meeting discussing the zoning for the new AAPL HQ building may be deemed material by the investors, based on the sentiments, even if no decision was made to be reported to SEC. "A paper EE series US Savings Bond is what is called a zero-coupon bond: you buy it at a discount from the face value (50% discount for US Savings Bonds), and it earns interest though you don't get the interest as cash (that you could invest elsewhere). Instead, the interest earned increases the  redemption value of the bond -- the money that you will receive if you take the bond to your bank to cash it in before the maturity date. When the bond finally matures, its redemption value has increased to the full face value.  The maturity date for paper EE series US Savings Bonds issued in May 1995 is 17 years. Now, with zero-coupon bonds in general, the IRS requires that the interest earned each year be reported as interest income even though you did not receive any cash income, and tax is due on the interest (unless it is a tax-free municipal bond or the bond is held in a tax-deferred investment such as an IRA or 401(k) plan). However, there is a special exemption for EE Series US Savings Bonds in that the owner has the option of not declaring the interest each year but instead reporting all the accumulated interest as interest income in the year of redemption. (Most people choose this option). It is not capital gains as you would like to be.   So, if your grandfather paid $11K$ for EE series US Savings Bonds in May 1995, the face value of the bonds he received was $22K, and, assuming that your grandfather followed typical practice, the bonds were worth $22K in May 2012, and $11K interest income needed to be declared that year.  This matches up pretty well with the amount the IRS told him was interest income on which he had to pay income tax (though the year is off by 3).  Now, your grandfather died in 2008, and what happened to the bonds depends on in whose name(s) the bonds were registered (e.g. was your father named as the survivor on the bond), or, if your grandfather was the sole owner, how your grandfather's estate was handled (the interest accrued till your grandfather died belonged to the estate). Note also that EE series bonds continue to earn interest in years 18 through 30 after they mature, but at maturity, the interest rate is reset by the Treasury, usually to the long-term interest rate which has been very small over the past many years. So, the interest earned in 2012-2015 when your father effectively redeemed the bond is small enough that the ""approximately $11K"" could be construed as covering $11.3K consisting of $11K of interest before maturity and $300 interest (at about 1% per annum) over the three-year post maturity period. The $100 interest earned by you for the current year sounds about right too. All in all, it might be the case that your grandfather bought the bonds in his name, your father's name, and your name (were you very young in 1995?), your father and you inherited the bonds in 2008, and then your father removed your grandfather's name from the bonds in 2015, thus transferring the bonds to his name and yours in 2015, and soon thereafter removed his name, transferring the bonds into your name alone. As to why 2015 and not 2008 when your grandfather passed away, did you turn 21 in 2015 (twenty years after the bonds were bought)?" Your mother can give you $14k and your wife $14k (every year) without creating a gift-tax filing requirement, anything in excess of that and she will have to file form 709 with her tax return, but she will not have gift tax liability on her end unless her lifetime gift tax exemption (currently $5.49M) has been exhausted. As the recipients of the gift, you have no tax liability or reporting requirement. So the easiest method would be for her to write you and your wife each checks for $14k. Since it's almost the end of the year, she could give you the extra $2k next year if needed, that smaller amount would not likely need to 'season' for loan approval. Since you mentioned only your mother, I assumed it's just her, but if your mother is married, both her and her spouse could each give you and your wife  $14k without creating a filing requirement, so up to $56k in gifts from one couple to another, or $28k from one party to a couple. It doesn't have to be a spouse, that's just the typical scenario. "In general, scholarship income that you receive that is not used for tuition or books must be included in your gross income and reported as such on your tax return.  Scholarship income you receive that is used for those kinds of expenses may be excludable from your gross income.  See this IRS information and this related question. I believe that as represented on the 1098-T, this generally means that if Box 5 (Scholarships and Grants) is greater than Box 1 or 2 (only one of which will be used on your 1098-T), you received taxable scholarship income.  If Box 5 is less than or equal to Box 1/2, you did not receive taxable scholarship income.  This TaxSlayer page draws the same conclusion. However, you should realize that the 1098-T is not what makes you have to pay or not pay taxes.  You incur the taxes by receiving scholarship money, and you may reduce your tax liability by paying tuition.  The 1098-T is simply a record of payments that have already been made. For instance, if you received $10,000 in scholarship money --- that is, actually received checks for that amount or had that amount deposited into your bank account --- then your income went up by $10,000.  If you yourself paid tuition, it is likely that you can exclude the amount of the tuition from your taxable income, reducing the tax you owe (see the IRS page linked above).  However, if you received $10,000 in actual money and in addition your tuition was paid by the scholarship (with money you never actually had in your own bank account), then the entire $10,000 would be taxable.  You do not give enough information in your question to be sure which of these situations is closer to your own.  However, you should be able to decide by looking at your bank account: look at how much money you received and how much you spent on tuition.  If you received more scholarship money than the tuition you paid out of pocket, you owe taxes on the remainder.  (I emphasize that this is just a general rule of thumb and should not be taken as tax advice; you should review the IRS information and/or consult a tax professional to determine what part of your scholarship income is taxable.) In addition, as this (now rather old) article from the New York Society of CPAs notes, ""many colleges and universities prepare 1098-Ts incorrectly and report tuition and related expenses inconsistently"".  This means you should be careful to reconcile the 1098-T with your own financial records of what money you actually received and paid.  When I was in grad school there was a good deal of hand-wringing and hair-pulling each year among the students as we tried to determine what relationship (if any) the 1098-T bore to the financial facts." The LLC will file its own business taxes which may or may not have business level income and expenses.  At the end, the LLC will issue Schedule K-1 tax forms to the members, that based on their percentage ownership, will reflect the percentage share of the income/losses.    From an individual standpoint, the members need only worry about the K-1 form they receive.  This has quite a few pass-through categories from the LLC, but the Income/Loss may be the only used one.  The individual will likely include the K-1 by filing a Schedule-E along with their 1040 form.  The 1040 Schedule-E has some ability to deduct expenses as an individual. Generally it's best not to commingle expenses.  Additional schedule-E expense reporting is generally for non-reimbursed, but related business expenses.  If a member paid certain fees for the LLC, it is better for the LLC to reimburse him and then deduct the expense properly.  Schedule-E is on a non-LLC, personal level. Just type in the forms as they are, separately. That would be the easiest way both to enter the data without any mistakes, and ensure that everything matches properly with the IRS reports. If you keep the account in your name only and your girlfriend is depositing money into it, then she is in effect making gifts of money to you. If the total amount of such gifts exceeds $14K in 2014, she will need to file a gift tax return (IRS Form 709, due April 15 of the following year, but not included with her Federal tax return; it has to be sent to a specific IRS office as detailed in the Instructions for Form 709). She would need to pay gift tax (as computed on Form 709) unless she opts to have the excess over $14K count towards her Federal lifetime combined gift and estate tax exclusion  of $5M+ and so no gift tax is due.  Most estates in the US are far smaller than $5 million and pay no Federal estate tax at all and for most people, the reduction of the lifetime combined... is of no consequence.  Another point (for your girlfriend to think about): if you two should break up and go your separate ways at a later time, you are under no obligation to return  her money to her, and if you do choose to do so, you will need to file a gift tax return at that time. If you will be returning her contributions together with  all the earnings attributable to her contributions, then keep  in mind that you will have paid income taxes on those earnings all along since the account is in your name only.  Finally, keep in mind that the I in IRA stands for Individual and your girlfriend is not entitled to put her contributions into your IRA account. Summary: don't do this (or open a joint account as tenants in common) no matter how much you love each other. She should open accounts in her name only and make contributions to those accounts. Maryland treats income from pensions and annuities in the same manner that the federal government treats such income. Consequently, pensions and annuities can be subject to Maryland's income tax. The resident booklet for Maryland income tax filers states on page 4: Line 1d. Enter on line 1d the total amount of pension, IRA,   and annuities reported as income on lines 15b and 16b of your   federal Form 1040, or lines 11b and 12b of your federal Form   1040A. Line 1 of Maryland's tax return represents total taxable income, before deductions, exemptions, and adjustments. Line 16b of federal Form 1040 represents the taxable portion of your FERS annuity. Consequently, the federally taxable portion of your FERS annuity is also subject to Maryland's state income tax. The taxable portion of FERS annuities should be recorded on the 1099-R you receive. If it's not, IRS pub 721 records how to calculate the taxable portion of FERS annuities. Maryland does, however, allow filers to exclude up to $29,200 of the taxable portion of their pension income in 2015 from taxable income if: a. You were 65 or over or totally disabled, or your spouse was   totally disabled, on the last day of the tax year, AND b. You included on your federal return taxable income received   as a pension, annuity or endowment from an “employee   retirement system” qualified under Sections 401(a), 403 or   457(b) of the Internal Revenue Code. [A traditional IRA, a   Roth IRA, a simplified employee plan (SEP), a Keogh plan, an   ineligible deferred compensation plan or foreign retirement   income does not qualify.] You mention receiving SS disability, so you may be eligible for that exclusion. Regarding what kinds of disabilities qualifies for those exclusions, Maryland states that: To be considered totally disabled, you must have a mental or physical impairment which prevents you from engaging in substantial gainful activity. You must expect the impairment to  be of long, continued or indefinite duration or to result in your death. You must attach to your return a certification from a qualified physician stating the nature of your impairment and that you are totally disabled. If you have previously submitted a physician’s certification, attach your own statement that you are still totally disabled and that a physician’s certification was submitted before. If you feel you would qualify for that exclusion (and have the required supporting evidence), fill out the relevant table and include the result on line 10 of your Maryland tax return. In the future, to avoid a large state tax bill due to inadequate withholding on pension funds, OPM provides a web service which allows you to specify state tax withholding amounts on pension distributions.