Schedule K-1 is a tax form that lists a beneficiary's share of trust income, corporation income, deductions, credits, etc. The trust or corporation also sends a copy of the form to the IRS, so the taxpayer should not attach it to his or her tax return.
In the context of planned giving, a pooled income fund administrator must send a Schedule K-1 to each pooled fund participant that reports the participant's share of the fund's income. Likewise, the trustee of a charitable remainder trust must send a Schedule K-I to each person who has received income from the trust during the year.
If you are a GiftWrap license holder, see the Help section in the software for more details.